STAMP

Ihdian Overseas Bank )

SAFE DEPOSIT
THIS LOCKER AGREEMENT IS MADE BETWEEN THE BANK AGREEMENT
Branch (
LOCKER ANDITS CUSTOMER ATTHE PLACE AND ON
THE DATE AS
STATED IN THE
The expression "the Bank"SCHEDULE
expression "the Customer" shall
HERETO (THE
shall include its SUCcessors, administrator and assigns and the
"AGREEMENT").

(a) one or more individuals, include,

his/ her/ their heirs(s). executor(s),
when the Customer administrator(s) and legal
is.
representative(s):
(b) a proprietorship firm, the proprietor and his/ her heirs(s), executor(s), administrator(s) and legal
representative(s):
(c) a partnership fim, such firm and its SUCcessor. SUch firm's partners, the survivor or survivors
among them and the heir (s). executor(s), administrator(s). legal representative(s) of each one of
them;
(d) a Hindu
Undivided Family (HUF), its members and their survivor(s), legal heir(s), executor(s),
administrator(s)
(e) a limited
and legal
representative(s);: and
company,
(The Bank and the Customer
its
succesSors. "Parties")
are each referred to as a "Party" and collectively as
WHEREAS:
(A) Ine CUstomer being desirOUs to avail of sofe denot locker facility, has approached the Bank
for such facility:
(5)Ihe Bank is agreeable to provide to the Customer the safe deposit locker facility subject to
certain terms nd conditions; and
(C) The Parties have decided toenter into this Aoreement toset out the understanding between
them in this regard.
IT IS AGREED BY AND BETWEEN THE
PARTIES AS FOLLOWS:
1. LOCKER LICENCE
1.1 Ihe Bank as a licensor hereby grants to the Customer as a licensee, the license to use the
safe deposit locker, the details of which are more particularly described in the Schedule
to this Agreement (hereinafter referred to as the "Locker"), subject to the terms and
conditions as set out under this Agreement.
1.2 The Customer hereby accepts the license granted in terms hereof for fee as specified in
the Schedule by way of rent (the "Rent").
1.3 The license to Use the Locker hereby granted is:
a) Personal and for the Customer's own use and not for the use of any person other than the
Customer;
b) Non- transferable:
c) Only for legitimate purposes such as storing of valuables like jewelry and documents but
not for storing any cash or currency;
d) Not for storing:
I, arms, weapons, explosives, drugs and/ or any contraband material; and/ or
a. any perishable material and/ or radioactive material and/ or any illeggl
substance; and/or
I| any material which can create any Tiazara or nuisance to the Bank or to any of its
CUstomers.
1.4 The Customer shall have no right or propeiy In tne Locker other than the right to ccess
and use the Locker in accordanCe win e Terms nd conditions specified under this
Agreement.
to operate the Locker.:
1.5 The Customer shall be llowed
Bank during the specific time
(a) On aworking day of the absence of notified from time to time by the
Bank for locker operation and
in SUch notification, during the
the Bank. However, in the event of the Bank is not being able to operatebusiness
for anyhours
reason
of
beyond its control such as flood, riot,
Locker;
curlew, lockout etc. the Bank shall not have any
obligation to allow operation of the details o1
(b) After the Customer
entering such operation in the Bank's records in the
manner as stipulated by the Bank: and
torm and providesidentity proot, if so
(c) After the Customer
2. CUSTOMER'S UNDERTAKINGS AND
OBLIGATIONS demanded by the Bank.
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2.1The Customer shall: and in accordance
(a) Use the Locker only for the purpose for which it is provided
with applicable law and regulations: may from time to
the Bank
as
(b) Abide by rules and regulations for locker operation
time adopt: mechanism provided by the
identification
Keep the key, password or any other the same with
(c)
in place of safety, not share other person, soanyas
Bank for opening of the Locker a any
into hands of
other person and not allow the Same to fall
to save unauthorized use of the Locker; other identification
password or any
(d) Operate the Locker only using the key,
mechanism provided by the Bank and not otherwise.other identification mechanism
any
(e) Not to temper with or make a copy of key or
provided by the Bank for operation of the Locker: key, password or any other
Bank forthwith in of loss of the
Case operation ofthe Locker:
() Inform the Bank for the
identification mechanism provided by the pasSWord or any other
the key,
forthwith to the Bank in case of finding Operation of the Locker
(g) Refun by the Bank for the
Identification mechanism provided
the Bank as lost;
earlier having been reported to due for
gnd bear all costs incurred by the Bank
when
(h) Pay to the Bank the Rent repairs to the Locker on the Customer's reporting of loss
0) Changing the lock and
of key provided by the Bank; and
Locker in terms of this Agreement. of the Customer
() Breaking open of the in case of the change of address
Inform the Bank forthwith number, email id.
new address and contact details including phone
providing
mobile number etc.
3. BANK'S RIGHTS
3.1 The Bank shall have a right to: relation to the Locker to
the Rent and any other cost incurred by the Bank in
(a) Recover by the Customer,
in the event the same is not paid
the debit of the Customer's aCcount,
when due: and
(b) Refuse access to the Locker remains unpaid; and
(i) Incase the rent due on the Locker
of identity when demanded by the Bank, at the
(ü) Customer fails to provide proof
time of seeking access to the Locker.
Termination of License
3.2 Customer's breach of or default under this
3.2.1 The Bank shall have, in the event of the Customer is not co-operating
Agreement and/ or the Bank being of the view that the Agreement, a right to terminate
this
and/or complying with the terms and conditions of to the Customer a prior
after issuing
this Agreement and the license granted hereunder, speed post (and also
written notice of not less than (three) months by
registered post or
available: and (i) SMS and/or WhatsApp
by (i) email where email id of the CUstomer is available) ("Termination Notice").
where the mobile phone number of fhe CUSTomer is forthwith and before the end of
3.2.2 Upon receipt of the Termination Notice, tne Licensor shall surrender and vacate the
Notice
the notice period stipulated under tne leminationother identification mechanism and
Locker and handover the keyS, passwOra or any Locker. to the Rant
the
documents provided by the Bank for opering of its contents
dedling WItN
Breaking open of the Locker and
3.3
The Bank shall have a right to Dredk tne Locker and deal with its contents in
3.3.1 under this Agreement, the Bank's internal policy (ies)of and
accordance with the provisions laws and
procedure (s) and the applicable regulations, in case of any one or more the
following events with Clause 3.2.1 hereof is servedend
to
the event Termination Notice in accordance
(a) In
and the Customer does not surrender and vacate the Locker after the
of theCustomer
the notice period stipulated underthe Termination Notice:
(three)
(b) The Rent remains
unpaidfor 3 (respectiveConsecutiveyears; and for a
Locker remains inoperative of whether Rent is paid or not)
(c) The years or more; and
the Customer cannot be located bythe Bank.
period of 7(seven) riaht to break open Ihe Locker, shall send to the
Customer
Before exercising the Termination NOlice the Bank writing of not
3.3.2
(in addition to the Under Clause 3.2.1 above) in
a nofice
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 less than 3(three) months by registered post/ speod post (and also by() email whero
email id of the CUstomer is available; and (i) SMS ond/ot WhatsApp where the mobile
phone number of the Customer is available) of the Bank's proposed action of breakin
open of the Locker ("'Break
3.3.3
Notwithstanding. Open Notlce") shalltake all possible
efforts to contact anything contined under this
the CUstomer by sending messagos on lheBank
mobile
Agrecmnent phone of the Custorner,
sending a personal messenger to the CUstomer: address, making phone calls on tho
Customer's land line/ mobile phone etc. belore brcakingopen ofthe Locker.
3.3.4 In case the Termination Notice and the Bregking Open Nolice s foresaid sent by the
Bank is returned be traceable despite the
undelivered
Bank having taken reasonableor efforts
the Customer
includingisthose foUnd to
not stated under Clause 3.3.2 and 3.3.3
above, the Bank shall, before breaking Open theLocker, issue d public notice of not less
than 3(three) months about the Bank's intention to break open the Locker, in mininum 2
(two) newspapers (one in English and another in local language) in the same location
where the Customer resides as evidenced by the Customer's address as stated in the
Bank.
Agreemnent or as further communicated by Customer to the
3.3.5 The breaking open of Locker would be donethein the presence of a committee consisting of
2 (two) officers of the Bank and 2 (two) Independent persons acting as witnesses. In the
event of electronically operated Locker (including Smart Vaults). the use of 'Vault
to a senior official and
Administrator password for opening of locker shall be assigned
complete audit trail of ofaccess
Upon breaking open shall behaving
the Locker, preserved.
followed the procedure as set out above, the
3.3.6
get valuation of the
Bank shall prepare inventory of the contents of the Locker and of the
and the contents Locker shall be
contents
kept done envelope
in sealed by the Bank's
along approved Valuer
with detailed inventory inside afireproof safe ina tamper-
proof way.
open process
3.3.7 In addition to the above, the Bonk chall aleo record a video of the break
same so as fo provide
TOgether with inventory assessment gnd sofe keen and preserve the
evidence in case
Furthermore, the of anyshall
Bank dispute
alsoorenure
court case
that inthe
future.
details of breaking open of locker is
3.3.8
documented in the Bank's Core Banking System (CBS) or any other computerized system
from
Compliant with the Cyber Security Framework issued by RBI from fime to fime, apart
locker register.
3.3.9 Disposal of the articles of the Locker as recorded in the inventory prepared in the manner
as stated in the paragraphs above, shall be done either by sale in public auction and the
sale prOceeds shall be applied first towards the CUstomer's dues to the Bank (including
outstanding Rent, breaking open charges and any other dues) and balance be refunded
to the Customer or held for the disposal at the order of the Customer.
3.3.10 Before sale of the contents of the Locker by conducting public auction, a notice of not
less than 3 (three) months in wrifing by registered post/ speed post (and also by (i) email
where email id of the Customer is available; and (i) SMS and/or WhatsApp where the
mobile phone number of the Customer is available) shall be issued by the Bank to the
Customer about the intention of the Bank to auction the contents of the locker for
recovery of the dues to the Bank. The said notice "Auction Notice") shall contain the
date, time and place of auction and acopy of the inventory of the contents of the
Locker made in terms hereof.
4 THE BANK'S DISCHARGE FROM OBLIGATIONS AND LIABILITY
4.1 The Bank shal not be liable for in any cose for deterioration or damage to the contents of
the Locker whether caused by rain, tire, TIOod, earthquake, lightina, civil disturbance or
commotion, riot or war or in the event of any terrorist attack or by any other similar
cause(s).
4.2 The Bankshall not be liable for any damage/ loss of contents of the Locker arising from
anygct that is attributable to the fauir oegigence of the Customer whatsoever.
4.3 The Bank shall be discharged of its obligotons and shallnot be liable for any cost, loss or
ligbility incurred by the Customer (ncug Tor any damage and/or loss of contents of
Locker) in the event the Locker SorOkopen and its contents dealt with in keeping with
the provisions of this Agreement.
Regardless of the gbove, the Bank's liability on the Locker shall always be subject to
4.4
regulation
limitation under the gpplicable law and
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4.5
The contents of the Locker shall in no manner be onsdeodinsurdbytheBank. and the
Bank shall not against any risk
have any liability to locker
5. whatAND
LAW soever.JURISDICTION insute the COntont,
c0
of tho

This of it shall be
Agreement
subject
is
to the made subject to Indign low Ond ol the Bank is
natters
arising out
situated or inn fhe

jurisdicion
jurisdiction of which of courts
the Bank falls. at theo
place
wheo

Place: Raipur SCHEDULE

Date
1(A) THE BANK 1. PARTIES TO THIS AGREEMENT corporate constituted under the
Act,
Indian Overseas Bank, Oa body and ransfer ofits Undertgkings)
branch as stated
Banking (Acquisition through
1970 and Companies
presents
below operating in these
BRANCH
1(B) THE CUSTOMER
NAME AND ADDRESS:
Name:
Address:
Email |D:
Mobile Number:
2) Name:
Address:
Mobile Number:
3) Name:
Address:
Mobile Number:
DESCRIPTION OF LOCKER NUMBER
LOCKER KEY NUMBER
3 LOCKER RENT PER Rs. (in figures):
YEAR Rupees (in words): time)
(As may be revised from time to
(Payable in advance) end of
this Agreement which at the further
4 PERIOD OF T(One) year from the date ofautomatically extended for a
LICENCE SUch one year shall stand terminated in terms hereof.
period of 1(one) year every time unless
5 OPERATING
MANDATE
ANY OTHER TERM
have executed this Agreement.
IN WITNESS WHEREOF, the Parties hereto
For the Customer 3
2

Signature

Name.

Designation/
Capacity*
individua/ not Signing in person)
("in case where the Customer is non
Branch Name]: Indian Overseas Ban
For the Bank [Bank Name/
Signature:
Name of the signatory:

Designation:

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