DATE LAST REVISED: 6 APRIL 1999
BAILMENT AGREEMENT
BETWEEN
LOCKHEED MARTIN CORPORATION
MATERIAL MANAGEMENT CENTER - PALMDALE
AND
________________________
THIS BAILMENT AGREEMENT (hereinafter referred to as "Agreement") is entered into by and between
Lockheed Martin Corporation, acting by and through its Material Management Center, (hereinafter referred
to as "Bailor") and _____, (hereinafter referred to as "Bailee"). In recognition of the mutual promises and
other good and valuable consideration, receipt of which is hereby acknowledged, Bailor agrees to deliver
and Bailee agrees to accept the bailment of certain of Bailor's property, at no cost to Bailee, as described
hereinbelow.
1. DESCRIPTION OF BAILED PROPERTY
Bailor shall bail to the Bailee property (hereinafter referred to as the "Property") identified below. The value
of the Property at the time of bailment to Bailee is also identified below:
QTY
2.
Part Number
Description
Value
USE OF BAILED PROPERTY AND COMPLIANCE WITH LAWS
Bailee shall use the Property for _____. Bailee's use shall comply with all applicable laws and regulations,
and with applicable requirements and instructions which may be provided by Bailor to Bailee. Bailee shall
comply with all United States laws and regulations relating to imports/exports and to all administrative acts
of the U.S. Government pursuant to such import/export laws and regulations.
3.
DELIVERY
The Property shall be delivered to Bailee at _____. Upon delivery, Bailee accepts responsibility for the
Property for a period of _____ at which time the Property shall be returned to Bailor. This period may be
extended by express written consent of Bailor. This period may be shortened by Bailor, at Bailor's sole
discretion, by providing _____ days notice to Bailee.
4.
PLACE OF RETURN
The Property must be returned by Bailee to Bailor at _____, with transportation charges to be paid by
Bailee. Upon return to Bailor, Property shall be in the same condition as when delivered to Bailee, ordinary
wear and tear excepted.
5.
POINT OF CONTACT
The individuals serving as points of contact for the Property are:
Bailor
Phone #
Fax #
Bailor
Phone #
Fax #
6.
TITLE
Title to the Property furnished pursuant to this Agreement shall remain with Bailor, and Bailee shall not sell,
lease, mortgage, borrow against, pledge or otherwise create a legal or equitable interest by any third party in
the Property. Bailee shall not remove any markings or make alterations to the Property during the period of
this Agreement. Furthermore, Bailee shall not represent to any person, company or governmental agency
that the Property is other than Bailor's property.
7.
MODIFICATION
Bailee shall not disassemble, modify or otherwise alter the Property nor reverse engineer the Property
without the prior written consent of Bailor.
8. WARRANTY
Bailor makes no representations in respect of, or warrants, the technical or scientific quality of the Property
supplied pursuant to this Agreement. Without restricting the generality of the foregoing, Bailor makes no
representations or warranties as to the merchantability or fitness for a particular purpose of the Property
supplied pursuant to this Agreement. The Property is delivered to Bailee "AS IS".
9. RELATIONSHIP
This Agreement is not intended by the parties to constitute or create a joint venture, pooling arrangement,
partnership, or formal business organization of any kind, and the rights and obligations of the parties shall be
only those expressly set forth herein. Neither party shall have the authority to bind the other except to the
extent authorized herein.
10. INDEMNIFICATION
Bailee shall defend, indemnify, protect and hold harmless Bailor, its officers and employees, successors, and
assigns, against any and all claims on account of bodily injury or property damage relating to or arising out of
Bailee's possession, handling, use or control of the Property for the duration of this Agreement.
11. LIABILITY FOR LOSS OR DAMAGE TO PROPERTY
Bailee assumes the risk of, and shall be responsible for, any loss or damage to the Property while the
Property is in Bailee's possession or control.
12. TAXES
Bailee shall be responsible for all taxes, if any, assessed against the Property while it is in the possession or
control of Bailee.
13. APPLICABLE LAW
The validity, construction, interpretation, performance and enforcement of this Agreement shall be in
accordance with the laws of the state of California without resort to its conflicts of law rules.
14. ASSIGNMENT
Neither party shall assign any of its rights or obligations under this Agreement without the prior written
consent of the other party.
15. COMPLETE AGREEMENT
This Agreement constitutes the complete and final Agreement between the parties and supersedes all prior
representations and agreements of the parties with respect to the subject matter hereof
BAILOR
LOCKHEED MARTIN CORPORATION
Lockheed Martin Aeronautics Company-Palmdale
BAILEE
_____________________________
Signature
_____________________________
Signature
_____________________________
Typed Name
_____________________________
Typed Name
_____________________________
Title
_____________________________
Title
_____________________________
Date
_____________________________
Date