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(Adopted and Promulgated by the Second Session of the Ninth National People's
Article 365 Definition of Safekeeping Contract
A safekeeping contract is a contract whereby the depository keeps the deposit
delivered by the depositor, and eventually returns it thereto.
Article 366 Safekeeping Fee
The depositor shall pay the safekeeping fee to the depository in accordance
with the contract.
Where the safekeeping fee was not prescribed or clearly prescribed, and cannot
be determined in accordance with Article 61 hereof, the safekeeping is gratuitous.
Article 367 Formation of Safekeeping Contract
A safekeeping contract is formed upon delivery of the deposit, except otherwise
agreed by the parties.
Article 368 Deposit Voucher
Upon the depositor's delivery of the deposit to the depository, the depository
shall issue a deposit voucher thereto, except otherwise provided by the relevant
usage.
Article 369 Place and Manner of Safekeeping
The depository shall keep the deposit with due care.
The parties may prescribe the place and manner of safekeeping. The place and manner of safekeeping may not be changed without authorization, except in an emergency situation or for the purpose of safeguarding the depositor's interests.
Article 370 Depositor's Obligation to Inform
Where the deposit delivered by the depositor has defects or requires special
safekeeping measures in light of its nature, the depositor shall inform the
depository of the relevant situation. Where the depositor failed to inform,
thereby causing damage to the deposit, the depository is not liable for damages;
where the depository sustains any loss as a result, the depositor shall be liable
for damages, except where the depository was, or should have been, aware of
the situation and failed to take remedial measures.
Article 371 Delegation of Safekeeping Prohibited Except
with Prior Agreement
The depository may not delegate safekeeping of the deposit to a third person,
except otherwise agreed by the parties.
Where the depository delegated safekeeping of the deposit to a third person
in violation of the previous paragraph, thereby causing damage to the deposit,
the depository shall be liable for damages.
Article 372 Use of Deposit Prohibited Except with Prior
Agreement
The depository may not use, or allow to be used, the deposit, except otherwise
agreed by the parties.
Article 373 Depository's Obligations in Case of Third
Party Claim
Where a third person makes a claim on the deposit, the depository shall perform
its obligation of returning the deposit to the depositor, except where an order
of preservation or enforcement is carried out in respect of the deposit in accordance
with the law.
Where a third person has initiated a suit against the depository or has applied
for attachment of the deposit, the depository shall timely notify the depositor.
Article 374 Depository Liable in Case of Damage or
Loss; Exception
If the deposit was damaged or lost due to improper safekeeping by the depository
during the deposit period, the depository shall be liable for damages, provided
that if the safekeeping is gratuitous, and the depository has established that
it was without gross negligence, it is not liable for damages.
Article 375 Depositor's Obligation to Declare Valuable
Deposit
Where the depositor is to deposit money, securities, or any other valuable item
for safekeeping, it shall make a declaration to the depository on such item,
which shall be inspected or sealed by the depository. Where the depositor failed
to make such declaration, upon damage to or loss of the deposit, the depository
may indemnify the depositor to the extent of the value of a regular item.
Article 376 Retrieval of Deposit
The depositor may retrieve the deposit at any time.
Where a deposit period was not prescribed or clearly prescribed, the depository
may require the depositor to retrieve the deposit at any time; where a deposit
period was prescribed, absent special cause, the depository may not require
the depositor to retrieve the deposit before the end of the deposit period.
Article 377 Depository's Obligation to Return Deposit
and Fruit
At the end of the deposit period, or if the depositor retrieves the deposit
before the end of the deposit period, the depository shall return the original
item together with any fruit thereof to the depositor.
Article 378 Safekeeping of Fungible Items
Where the depository keeps money deposit, it may return money of the same type
and quantity. Where the depository keeps any other fungible item, it may return
any item of the same type, quality and quantity in accordance with the contract.
Article 379 Time of Payment of Safekeeping Fee
Under a safekeeping contract for value, the depositor shall pay to the depository
the safekeeping fee at the prescribed time.
Where the time of payment of the safekeeping fee was not prescribed or clearly
prescribed, and cannot be determined in accordance with Article 61 hereof, the
safekeeping fee shall be paid at the same time the deposit is retrieved.
Article 380 Depository's Lien in Case of Non-payment
Where the depositor fails to pay the safekeeping fee and other expenses, the
depository is entitled to a possessory lien on the deposit, unless otherwise
agreed by the parties
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