Warehouser's Liability Form

AAA

DEFINITION of 'Warehouser's Liability Form '

A document that describes the obligations of a storage facility toward its customers. Warehouse owners and operators can be held liable if the goods being stored in their warehouse are destroyed, damaged or stolen. Thus, warehouser's liability insurance exists to protect owners and operators against the costs of legal defense, damage awards and other expenses related to a damage claim.

INVESTOPEDIA EXPLAINS 'Warehouser's Liability Form '

The industry does not have one standard form for warehouser's liability; each insurance company has its own form. Also, certain types of property are commonly not covered by a standard form, including money, precious metals and stones. Once the owner removes his or her goods from the warehouse and signs a warehouse storage receipt and release of liability, the warehouse owner or operator is no longer responsible for the goods.

RELATED TERMS
  1. Warehouse Bond

    A type of financial protection that assures an individual or ...
  2. Warehouse-To-Warehouse Clause

    A clause in an insurance policy that provides for coverage of ...
  3. Warehouse Financing

    A form of inventory financing in which loans are made to manufacturers ...
  4. Carrying Cost Of Inventory

    This is the cost a business incurs over a certain period of time, ...
  5. Warehouse Receipt

    A receipt used in futures markets to guarantee the quantity and ...
  6. Warehousing

    1. A procedure whereby a company gradually builds up a holding ...
Related Articles
  1. Insurance

    Insurance Tips For Homeowners

    Use these simple ideas to save money and get better coverage for your house.
  2. Home & Auto

    The History Of Insurance

    The first written policy appeared in Hammurabi's Code. Find out how it evolved from there.
  3. Home & Auto

    Cover Your Company With Liability Insurance

    Every business is susceptible to legal action. Find out how to protect yours.
  4. Home & Auto

    The History Of Insurance In America

    Insurance was a latecomer to the American landscape, largely due to the country's unknown risks.
  5. Home & Auto

    5 Insurance Policies Everyone Should Have

    Insurance policies come in a wide variety of shapes and sizes. Shop carefully and the right policies will go a long way towards helping you protect your assets.
  6. Home & Auto

    Filling The Gaps In General Liability Insurance

    Standard liability coverage may not be enough. Special needs call for specialized policies.
  7. Home & Auto

    6 Reasons To Avoid Private Mortgage Insurance

    This costly coverage protects your mortgage lender - not you.
  8. Options & Futures

    Choosing The Best Disability Insurance

    Social Security benefits can be hard to collect. Find out why you need disability insurance to protect your income, and learn how to choose the right policy for you.
  9. Home & Auto

    How To Outsmart Private Mortgage Insurance

    It's possible to use a second mortgage to avoid this fee, but is it in your best interest?
  10. Insurance

    Life Insurance: Putting A Price On Peace Of Mind

    Would your death leave loved ones financially stranded? Find out how to ease your mind and keep them protected.

You May Also Like

Hot Definitions
  1. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  2. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  3. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  4. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
  5. Special Administrative Region - SAR

    Unique geographical areas with a high degree of autonomy set up by the People's Republic of China. The Special Administrative ...
  6. Annual Percentage Rate - APR

    The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents ...
Trading Center