Monthly Storage Fee
1.1 A monthly storage fee shall apply per item as set out in the pricing table provided by LIULIGONGFANG SINGAPORE PTE LTD ("the Company").
1.2 The monthly storage fee is payable in advance and shall be invoiced to the Customer on a monthly basis.
1.3 The Customer shall be responsible for the prompt payment of all storage fees.
2.1 The maximum storage period for each item is 360 days from the date specified in 2.2.
2.2 The storage period begins on the date the Customer authorizes the Company to store the item. In the event the Customer fails to collect the item on the date specified by the Customer in the contract, the Company shall be deemed to be authorised to store the item.
2.3 The Company shall have the right to dispose of any item remaining in storage after the expiration of the storage period with a further notice to the Customer.
3.1 Upon the end of the storage period, the Company shall deliver the item to the address provided by the Customer in the contract.
3.2 The Customer shall bear the cost of delivery, including any applicable shipping fees or insurance charges.
3.3 In the event the item is rejected by the Customer and returned to the Company, the Company shall have the rights as set out in 2.3, 7.1 and 7.2.
Storage Period and Extension
4.1 The storage period shall not be extended beyond 360 days.
4.2 The Customer shall make arrangements to collect the item or arrange for its delivery within the stipulated storage period.
4.3 Failure to collect the item or arrange for its delivery within the storage period, the item shall be deemed as overdue for processing.
Limitation of Liability
5.1 The Company shall exercise reasonable care in storing the item; however, it shall not be liable for any loss, damage, or theft of the item, except in cases of wilful misconduct or gross negligence on the part of the Company.
5.2 The Customer acknowledges and agrees that the Company shall not be responsible for any damage or deterioration of the item due to its inherent nature, including but not limited to temperature, humidity, or other environmental factors.
6.1 Storage payment should be made to the following bank account:
Bank Name: HSBC Bank
Bank Address: No. 6 Claymore Hill #01-00 Claymore Plaza, Singapore 229571
Bank Account No: 143-033215-001
Account Name: Liuligongfang (Singapore) Pte Ltd
SWIFT Code: HSBC SG SG
6.2 The Customer shall ensure that the payment is made in the correct amount and currency as specified in the invoice provided by the Company.
6.3 Any bank charges or fees incurred during the payment process shall be borne by the Customer.
7.1 In the event that the Customer fails to collect the item or arrange for its delivery within the stipulated storage period, or fails to pay the storage fees within 30 days after the due date, the Company shall have the right to take appropriate action regarding the overdue item.
7.2 Without prejudice to any other rights or remedies available to the Company, if the item remains uncollected or undelivered or if the storage fees remain unpaid after the expiration of the storage period and the additional 30-day grace period, the Company may, at its sole discretion, take any of the following actions:
(a) Dispose of the item in any manner the Company deems fit, including but not limited to auctioning, selling, or donating the item;
(b) Retain or offset the proceeds obtained from the disposal of the item against any outstanding amounts owed by the Customer. The amount to be retained or offset includes the expense incurred by the company to dispose the item and the overdue storage fees. The overdue storage fees shall be three times the storage fee.
Release of Liability
8.1 The Customer acknowledges and agrees that once the item is disposed of or destroyed in accordance with Clause 7, the Company shall be released from any further liability in relation to the item, including but not limited to any claim for loss, damage, or compensation.
9.1 The storage fee quoted for the item(s) only includes Goods and Services Tax (GST) and does not include any other charges, including insurance fees.
9.2 The Customer has the option to obtain insurance coverage for the stored item(s) directly from a reputable insurance company of their choice.
9.3 The Company shall not be responsible for any insurance matters, including but not limited to the arrangement, payment, or processing of insurance claims.
9.4 It is the Customer's sole responsibility to ensure that appropriate insurance coverage is obtained to protect the item(s) against loss, damage, theft, or any other insurable risks.
Governing Law and Jurisdiction
10.1 This agreement shall be governed by and construed in accordance with the laws of Singapore.
10.2 Any disputes arising out of or in connection with this agreement shall be submitted to the exclusive jurisdiction of the courts of Singapore.