Terms and Conditions

Deeds Storage agreement Between TITLE DEEDS STORAGE COMPANY LIMITED and Customer

PARTIES

This agreement is made between:

(1) Title Deeds Storage Company Limited, a private company limited by shares incorporated in the Republic of Ireland (registration number: 535808) having its registered office at Liffey Bridge House, 1 Main Street, Lucan, County Dublin trading as Title Deeds (business name registration number: 505633) and listed www.deeds.ie (hereinafter referred to as “Deeds Storage”) of the first part; and,

(2) The Registered Owner(s) or person(s) entitled to the legal and or beneficial owner of the property referred to in the Deeds (hereinafter referred to as the “Customer”) of the other part.

RECITALS

Whereas:

(A) Deeds Storage is in the business of providing Deeds storage services.

(B) The Customer agrees to deliver his Deeds to Deeds Storage on the terms of this agreement.

AGREED TERMS

1. Interpretation

The following definitions and rules of interpretation apply in this agreement.

1.1. Definitions:

  1. Applicable Laws: the laws of Ireland.
  2. Business Day: a day, other than a Saturday, Sunday or public holiday in Ireland, when banks in Dublin are open for business.
  3. Business Hours: the period from 9.00 am to 5.00 pm on any Business Day.
  4. Charges: the sums payable for the Deeds Storage Services, as agreed or described on the Deeds Storage website as applicable on the date that the deeds are delivered to Deeds Storage.
  5. Commencement Date: means the date that the Deeds are received by Deeds Storage.
  6. Core Deeds: means the basic title documents deemed by Deeds Storage at its sole discretion to make up the essential documents in order to show legal title to the property including the PRA folio or conveyance/lease/assignment but not documents that are in the public domain or available from public authorities.
  7. Deeds: documents, including but not limited to documents of title to property, delivered to Deeds Storage for storage in the Facility in accordance with the terms of this agreement.
  8. Delivery: the transfer of physical possession of Deeds to Deeds Storage, at the Facility.
  9. Facility: Deeds Storage offices/warehouses where it supplies its services.
  10. Good Industry Practice: means using the standards, practices, methods and procedures conforming to the Applicable Laws and exercising that degree of skill and care, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced person engaged in a similar type of undertaking under the same or similar circumstances.
  11. Direct Debit Mandate: means the Mandate Form listed on the www.Deeds.ie website.
  12. Good Marketable Title: means such title as meets the criteria of good marketable title as known by the Law Society of Ireland.
  13. Deeds Storage Services: the review, scheduling, identifying the Core Deeds, copying and scanning the core deeds, warehousing and storage services to be provided by Deeds Storage in respect of the Deeds, posting you a copy of the core deeds and sending you a copy of the scanned core deeds, releasing the Deeds to you at your request.
  14. VAT: value added tax chargeable in Ireland.

1.2. Clause, Schedule and paragraph headings shall not affect the interpretation of this agreement.

1.3. Unless the context otherwise requires, words in the singular shall include the plural and in the plural shall include the singular.

1.4 Unless the context otherwise requires, a reference to one gender shall include a reference to the other genders.

1.5 A reference to writing or written includes email.

2. Commencement and duration

This agreement shall commence on the Commencement Date and shall continue until either party gives to the other party 28 days’ notice in writing to terminate expiring on or after 28 days from the date of the notice.

3. Appointment of Deeds Storage

3.1. The Customer shall appoint Deeds Storage, to provide the Deeds Storage Services to the Customer pursuant to the terms and conditions of this agreement.

3.2. The Customer acknowledges that Deeds Storage is not a common carrier and, without prejudice to the generality of the foregoing that Deeds Storage is not a provider of postal or courier services.

4. Deeds Storage general obligations

In providing the Services, Deeds Storage shall:

4.1. provide the Deeds Storage Services;

4.2. provide the Deeds Storage Services with reasonable care and skill and in accordance with Good Industry Practice;

5. Customer’s obligations

5.1. Before Delivery of Deeds the Customer shall ensure that the Deeds are securely and properly packaged in such condition as not to cause damage or injury or the likelihood of damage or injury.

5.2. The Customer shall deliver the Deeds to Deeds Storage at its own risk and shall bear all responsibility for obtaining suitable insurance (if the customer so chooses) for any loss, howsoever arising, while the Deeds are in transit to Deeds Storage.

5.3. The Customer shall ensure that Deeds are accompanied by a duly completed Direct Debit Mandate.

5.4. The Deeds together with the Direct Debit Mandate shall be delivered by the Customer to Deeds Storage Facility currently at Liffey Bridge House, 1 Main Street, Lucan Co. Dublin K78KV24

6. Deeds Storage warranty

6.1. Deeds Storage warrants on an ongoing basis that it has the right to use the Facility for the purpose of storing the Deeds.

7. Customer’s warranties

7.1. The Customer warrants on an ongoing basis that:

(a) it has supplied Deeds Storage all relevant material information which has been reasonably requested by Deeds Storage;(b) it is the legal and beneficial owner of the Deeds and there are no restrictions on its right to store the Deeds at the Facility; and,

8. Additional storage requests

8.1. Before Delivery of any Deeds in addition to those already delivered , the Customer shall contact Deeds Storage and advise full details of the additional deed to be stored. Deeds Storage shall not be responsible for any addition deeds or documents delivered to Deeds Storage without full prior written warning and agreement to accept by Deeds Storage.

8.2. Deeds Storage reserves the right to refuse to accept any Deeds without explanation.

9. Confirmation of Receipt

9.1. Title Deeds shall inspect the Deeds as soon as practicable following receipt to determine that the Deeds are complete and authentic, (but at no point is Deeds Storage certifying that the title is a Good Markeatable Title nor shall it be the responsibility of Deeds Storage to “read the Title”), and upon being so satisfied shall issues confirmation of receipt.

9.2. Delivery of Deeds shall not be deemed to have occurred unless and until such time as the Deeds are delivered to the Deeds Storage offices. Without prejudice to the generality of the foregoing, risk shall not pass to Deeds Storage until receipt of the Deeds.

10. Return/removal of Deeds

10.1. The Customer shall arrange the collection or remove of some or all (if multiple sets of Deeds) of the Deeds from Deeds Storage at such date as may have been agreed between the parties. Any outstanding fees due of storage must be discharged prior to the deeds being released. No fee is payable for the return/removal of the Deeds at the end of storage.

10.2. Deeds Storage shall only release the Deeds to the Customer, his agent with authority to receive the Deeds or his lawfully appointed personal representative.

10.3. The Customer may arrange, at its own cost/risk, for the Deeds to be sent by Deeds Storage to a nominated address by courier. Nothing in this agreement shall require Deeds Storage to send the Deeds by way of ordinary pre-paid post.

11. Compliance with Applicable Laws

11.1. In performing its obligations under this agreement, Deeds Storage shall comply with the Applicable Laws.

12. Charges

12.1. In consideration of the provision of the Services by Title Deeds, the Customer shall pay the Charges.

12.2. If the Customer transfers title or agrees to transfer title to any of the Deeds while such Deeds are with Deeds Storage, the Customer shall continue to be responsible for payment of the Charges until the Deeds are removed from Deeds Storage.

12.3. All Charges are stated exclusive of VAT which shall be paid by the Customer at the rate and from time to time in the manner prescribed by law.

12.4. Title Deeds may increase the Charges on an annual basis with effect from each anniversary of the date of this agreement in line with the percentage increase in the CPI in the preceding 12-month period, and the first such increase shall take effect on the first anniversary of the date of this agreement and shall be based on the latest available figure for the percentage increase in the Consumer Price Index. Charges shall not reduce in the event that inflation is deemed negative in the CPI for any year or years.

13. Invoicing and payment

13.1. Title Deeds shall invoice the Customer at the end of the storage period.

13.2. Title Deeds shall have a general and particular lien on the Deeds in its possession as security for payment of all sums claimed by Deeds Storage from the Customer. The Charges (and interest if late payment) shall continue to accrue on any Deeds detained under lien.

13.3 If the Customer fails to make any payment due under this agreement by the due date for payment, interest on the overdue sum from the due date until payment of the overdue sum, will accrue at 5% per annum compounding annually from the first date of non-payment till discharge in full.

14. Risk and liability

14.1. Subject to clause 9.2, risk in the Deeds shall pass to Deeds Storage on Delivery.

14.2. The Deeds shall remain at Deeds Storage risk until their delivery into the possession of any of:

(a) the Customer, its duly authorized agent or lawfully appointed personal representative; or,(b) a courier or postal service nominated by Customer, in each case as evidenced by written receipt.

14.3. Deeds Storage shall be entitled to rely upon any document produced by an agent of the Customer or the Customer’s lawfully appointed personal representative that reasonable demonstrates that agent’s or personal representative’s authority to take custody of the Deeds as conclusive evidence of such authority and Deeds Storage shall not be liable for any negligence or wilful default or fraud by or on the part of such agent or personal representative.

14.4. Subject to clause 14, Title Deeds shall be liable for:

(a) unaccountable losses of Deeds while in its custody or under its control; and,(b) ascertainable losses, destruction of or damage to the Deeds due to Deeds Storage negligence or wilful acts, omissions and default, including theft, misappropriation or damage caused by Deeds Storage, its employees, agents or representatives while the Deeds are in the custody or under the control of Deeds Storage.

15. Limitation of liability

15.1. The limits and exclusions in this clause reflect the insurance cover Deeds Storage has been able to arrange and the Customer is responsible for making its own arrangements for the insurance of any excess loss.

15.2. The restrictions on liability in this clause 15 apply to every liability arising under or in connection with this agreement including liability in contract, tort (including negligence), misrepresentation, restitution or otherwise.

15.3. Neither party may benefit from the limitations and exclusions set out in this clause in respect of any liability arising from its deliberate default.

15.4. Nothing in this agreement limits any liability which cannot legally be limited.

15.5. Nothing in this clause 15 shall limit the Customer’s payment obligations under this agreement.

15.6. Deeds Storage total liability to the Customer for damage, loss and/or expense caused by the negligence of Deeds Storage its employees, agents or representatives in connection with this agreement shall not exceed €500.00 for any set of Deeds.

16. Force majeure

16.1. Force Majeure Event means any circumstance not within a party’s reasonable control including:

(a) acts of God, flood, drought, earthquake or other natural disaster;(b) epidemic or pandemic; (c) terrorist attack, civil war, civil commotion or riots, war, threat of or preparation for war, armed conflict, imposition of sanctions, embargo, or breaking off of diplomatic relations;

(d) nuclear, chemical or biological contamination or sonic boom;

(e) any law or any action taken by a government or public authority, including imposing an export or import restriction, quota or prohibition, or failing to grant a necessary licence or consent;

(f) collapse of buildings, fire, explosion or accident;

(g) any labour or trade dispute, strikes, industrial action or lockouts (other than in each case by the party seeking to rely on this clause);

(h) non-performance by suppliers or subcontractors (other than by companies in the same group as the party seeking to rely on this clause); and

(i) interruption or failure of utility service.

16.2. If Deeds Storage is prevented, hindered or delayed in or from performing any of its obligations under this agreement by a Force Majeure Event (“Affected Party”), it shall not be in breach of this agreement or otherwise liable for any such failure or delay in the performance of such obligations.

16.3. The Deeds Storage shall:

(a) as soon as reasonably practicable after the start of the Force Majeure Event notify the customer in writing of the Force Majeure Event.(b) use all reasonable endeavours to mitigate the effect of the Force Majeure Event on the performance of its obligations.

17. General

17.1. Entire agreement

This agreement constitutes the entire agreement between the parties and supersedes and extinguishes all previous agreements, promises, assurances, warranties, representations and understandings between them, whether written or oral, relating to its subject matter.

Each party agrees that it shall have no remedies in respect of any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in this agreement. Each party agrees that it shall have no claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in this agreement.

17.2. Variation

No variation of this agreement shall be effective unless it is in writing and signed by the parties (or their authorised representatives).

17.3. Assignment and other dealings

Neither party shall assign, transfer, mortgage, charge, subcontract, delegate, declare a trust over or deal in any other manner with any of its rights and obligations under this agreement.

17.4. Waiver

(a) A waiver of any right or remedy under this agreement or by law is only effective if given in writing and shall not be deemed a waiver of any subsequent right or remedy.

(b) A failure or delay by a party to exercise any right or remedy provided under this agreement or by law shall not constitute a waiver of that or any other right or remedy, nor shall it prevent or restrict any further exercise of that or any other right or remedy. No single or partial exercise of any right or remedy provided under this agreement or by law shall prevent or restrict the further exercise of that or any other right or remedy.

15. Severance

(a) If any provision or part-provision of this agreement is or becomes invalid, illegal or unenforceable, it shall be deemed deleted, but that shall not affect the validity and enforceability of the rest of this agreement.

(b) If any provision or part-provision of this agreement is deemed deleted under clause 17.5(a) the parties shall negotiate in good faith to agree a replacement provision that, to the greatest extent possible, achieves the intended commercial result of the original provision.

17.6. Notices

(a) Any notice or other communication given to a party under or in connection with this agreement shall be in writing and shall be:

(i) delivered by hand or by pre-paid ordinary post at its registered office (if a company) or its principal place of business or principal place of residence; or(ii) sent by email to the last known email address

(b) Any notice or communication shall be deemed to have been received:

(i) if delivered by hand at the time the notice is left at the proper address;(ii) if sent by pre-paid ordinary post, at 9.00 am on the second Business Day after posting; or(iii) if sent by email, at the time of transmission.

17.7. Conflict

If there is an inconsistency between any of the provisions in the main body of this agreement and the Schedules, the provisions in the main body of this agreement shall prevail.

17.8. Governing law

This agreement and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it or its subject matter or formation shall be governed by and construed in accordance with the law of Ireland.

17.9. Jurisdiction

Each party irrevocably agrees that the courts of Ireland shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with this agreement or its subject matter or formation.

This agreement has been entered into on the date the Customer delivers his Deeds to Deeds Storage.