Definitions
“NFA“: means NORTON FINE ART LLC, together with its affiliates, subsidiaries, agents, independent contractors, the owners of the facilities at which services and/or storage of Goods are provided, and their respective employees. NFA is a “warehouseman” solely when NFA is providing custodial storage of a Customer’s Goods (as opposed to non-custodial storage by the Customer in the Customer’s exclusive private storage room pursuant to an executed occupancy agreement between Customer and NFA). NFA is a “motor carrier” solely when it is directly transporting Goods by land. In all other instances and when the Goods are not in care, custody and control of NFA, NFA is acting as the agent of the Customer.
“Customer”: means the consignor, shipper, consignee, merchant, person entitled to delivery of the Goods, receiver of the Goods, owner of the Goods and its/their employees, principals and agents who retain NFA to perform transportation, storage and other services with respect to the Goods, subject to the limitations, exclusions, rules and conditions set forth herein. “Goods” means articles of every kind and description, including their packaging, containers or other shipping units or materials, tendered to NFA for transportation and storage related services.
“Services” refers to all services provided by NFA including, but not limited to, art handling, installations, packaging, crating, storage and transportation.
Agreement to Terms
By tendering Goods to NFA, Customer agrees that it has read and fully understands these Terms and Conditions, confirms that NFA is not responsible to clarify to Customer any of these Terms and Conditions, and that these Terms and Conditions govern all respects the Services rendered, including the limits on NFA’s liability and release of responsibility of NFA for loss or damage to the Goods. NFA reserves the right to modify these Terms and Conditions at any time. INSURANCE: Customer acknowledges that NFA does not provide, and is not responsible to maintain any insurance with respect to Customer’s Goods. At Customer’s request, NFA can arrange insurance for Customer in excess of NFA’s stated limits of liability set forth below provided that Customer elects to have such insurance provided by NFA based upon a specific declared value for the Goods given to NFA in writing before possession of the Goods is transferred to NFA or before Goods already in NFA’s possession are designated for shipment. Premiums for such insurance is based on the written declared value of the Goods as provided to NFA which shall be added to the cost of NFA’s Services and to be effective must be paid in full by Customer and are in addition to any additional fees for increased declared value as set forth below (See Limited Liability).
Rate Application and Payment Terms
Estimates are issued on the basis of immediate acceptance; NFA maintains the right to withdraw or revise any estimate, whether issued verbally or in writing. Should any changes occur in regards to the rate of freight shipping, packing or warehousing services, storage, or any other charges that are applicable to the goods, then estimates shall be subject to immediate revision accordingly. NFA may make such a revision with or without notification to the customer, even after NFA has accepted the goods. Rate adjustments may be triggered by any of, but not limited to, the following; additional cargo volume and/or weight; additional collections, deliveries, re-routings, and/or extra handling services; delays caused by lack of preparation, non-availability of cargo, and/or errors & omissions made by the customer; unwillingness of consignee to receive goods; and additional services ordered on the customer’s behalf at either the collection or delivery, or by anyone acting on behalf of the customer.
Payment terms are net receipt upon presentation of invoice unless otherwise stated on the face of this document. NFA reserves the right to assess fees to the customer for payments in arrears and collection procedures on delinquent accounts including, but not limited to, reasonable legal fees and interest on unpaid amounts.
No claims for loss or damage will be entertained until all NFA’’s charges have been paid in full. Any amounts alleged to be part of a claim may not be deducted from the total due and payable charges.
Handling and Handling Charges
Customers shall specify the means and methods for handling Goods. Absent specific instructions, NFA undertakes to handle Goods using its customary methods and equipment which are subject to change at its discretion. However, as noted herein, NFA will not perform certain services without written instructions and approval from Customer. The handling charges include, among other things, the labor involved in receiving Goods at Warehouse, placing Goods in storage, retrieving Goods, and any other Services relating to the Goods. Any additional expenses incurred by NFA in receiving and handling damaged Goods, and additional expense in unloading from or loading into cars or other vehicles not at the Warehouse loading area will be charged to the Customer. Goods handled at Customers request outside regular business hours shall be subject to an additional charge.
Late Charges and Other Fees
If Customer’s charges are not paid on or before the due date, Customer shall be liable for late charges at a rate of 3% per month of the outstanding balance until all amounts due have been paid, together with all expenses incurred by NFA in collection, including reasonable attorneys’ fees and expenses. It is further understood and agreed that the Customer shall pay a charge of $50.00 for any dishonored check, whether same is issued on a closed account or insufficient or uncollected funds. NFA reserves the right to refuse payment by check at any time. Customer further agrees to pay all wiring and bank fees incurred as part of the invoice settlement process. NFA reserves the right to apply processing fees for credit card paying clients.
Cancellation Policy and Rush Fees
If Customer submits a Service Request which is subsequently canceled on less than two (2) business days notice, Customer shall pay all Charges incurred by NFA in preparation for the Services and a cancellation fee of fifty percent (50%) of estimated charges. Additionally, if Customer cancels a Service Request on less than one (1) business day notice, Customer shall pay a cancellation fee of one hundred percent (100%) of estimated charges.
If Customer submits a Service Requests after three (3) pm PST for the next business day, Customer willbe subject to a rush fee of an additional fifty percent (50%) of total charges. NFA reserves the right to modify and update this policy.
Authorization and Subcontracting
Customer authorizes NFA to make, endorse, and sign bills of lading, waybills, warehouse receipts, and/or other necessary or required documentation in connection with the transportation, storage, and/or handling of Goods, in the name, place and stead of Customer. Moreover, Customer acknowledges and agrees that NFA and/or its authorized agents may subcontract the performance of Services to third parties and/or subcontractors and hereby authorizes NFA and/or its authorized agents to hire, retain, and or otherwise appoint third parties and subcontractors, including but not limited to domestic and international carriers, indirect air carriers, freight forwarders, and/or warehousemen to perform and transact business on behalf of Customer in the name, place and stead of Customer. When third parties and/or subcontractors physically handle Goods or provide Services, they do so subject to the Limitations of Liability set forth herein.
Term for Storage
The terms of storage shall be set forth in a Storage Agreement. Absent such a written agreement, storage for Goods is provided by NFA on a month to month basis at NFA’s prevailing rate. The month to month terms will automatically renew, unless terminated by either party, in writing on thirty (30) days written notice, which notice shall state the date of termination. An acknowledgement of the notice of termination by the other party is required.
Storage Period and Charges
All storage periods and charges shall be set forth in the Storage Agreement between Customer and NFA. However, in the event that Goods is stored without a Storage Agreement the following terms shall apply to such storage:
1. All charges for storage are determined based on size, quantity, dimension, weight, or storage space required, as well as the Declared Value, if applicable.
2. Storage charges become applicable upon the date that NFA accepts care, custody and control of the Goods, regardless of unloading date or date issue of the Warehouse Receipt(s).
3. A full month’s storage charge will apply to all Goods received between the 1st and 15th, inclusive, of a calendar month; one-half month’s storage charge will apply to all Goods received between the 16th and last day, inclusive, of a calendar month, and a full month’s storage charge will apply to all Goods in storage on the first day of the next and succeeding calendar months.
4. The monthly storage charges shall increase by 7% per annum from the commencement date (rounded to the nearest whole cent).
Storage Deposit
The Customer shall pay, as part of its first storage invoice, a charge for the first month storage fee, plus a deposit to be determined at the time of the estimate.
Customer’s Insurance and Waiver of Subrogation
Customer is solely responsible for arranging and maintaining insurance coverage for the Goods at Customer’s own expense for all risk of loss or damage. Customer hereby waives any and all right of recovery against NFA for loss and or damage to Goods, persons and property during the course of NFA’s performance of Services. This waiver shall be in addition to, and not in limitation or derogation of, any other waiver, release, or limitation of liability contained in these Terms and Conditions or any other agreement between Customer and NFA with respect to any loss of, or damage to, the Goods, persons and or property. Insofar as the above waiver will preclude the assignment of any claim for loss of, or damage to Goods, persons and property by way of subrogation to an insurance company, or otherwise, Customer agrees to immediately furnish its insurers with written notice of the terms of said waiver, and to have all applicable insurance policies properly endorsed, if necessary, to the effect that such waiver shall not adversely affect or impair said policies or invalidate said insurance coverage by reason of said waiver and shall waive all rights of subrogation against NFA with respect to any loss of, or damage to, the Goods, persons and or property covered by such insurance.
Goods Tendered to NFA
Customers must physically inspect all Goods tendered to NFA. Customer’s Goods are accepted by NFA in apparent good order and condition. By tender of the Goods to NFA, Customer represents that Customer is storing only Goods that Customer has the legal right to store and acknowledges that NFA is relying on Customer’s representations. Customer acknowledges that the Goods will not be inspected by NFA for any purpose whatsoever, and Customer waives any claim that the condition of the Goods has changed or the Goods have been damaged while in NFA’s possession. Customer understands that NFA does not employ fine art conservators and that NFA’s art handlers may, during the normal course of business, issue a condition report for the purposes of noting damages visible to the naked and untrained eye, which condition report is made without prejudice and is not binding on NFA. Customer warrants that Goods provided to NFA “packed by shipper” for the purpose of tender to NFA have been packed, packaged, protected and labeled to ensure safe handling. NFA shall not be liable for loss or damage to Goods received packed by shipper. Customer acknowledges that NFA shall be entitled to rely on the description of the Goods provided by Customer to NFA and that acceptance of the care, custody or control of the Goods by NFA is not an acknowledgement or confirmation by NFA of the accuracy of such description, and that NFA is entitled to rely upon such description and to use such description in NFA’s business records, including inventory and other reports, service requests and shipping documentation without any liability to Customer or any third party with respect thereto. Customer understands and agrees that that NFA is relying upon Customer’s representation with respect to the identity, nature and condition of the Goods, and agrees to indemnify, defend and hold harmless NFA from and against all claims, liabilities, demands, costs and expenses of every nature and description (including attorney’s fees and disbursements and court costs) incurred by or asserted against NFA if this representation is untrue in any respect.
Limitations of Liability
Goods shipped, installed or tendered to NFA to be placed into storage are valued at a released rate of the lesser of one hundred dollars ($100.00) per item or one dollar ($1.00) per pound. However, in no event shall NFA’s aggregate liability exceed the lesser of two thousand five hundred dollars ($2,500.00) or the value of the actual loss. NFA’s liability may be fixed at a higher value if the nature and value of the Goods are declared by the Customer to NFA in writing before possession of the Goods is transferred to NFA or before Goods already in NFA’s possession are designated for shipment, and Customer pays NFA an increased rate based upon such increased declared valuation. Customer acknowledges that there will be an additional monthly charge (NOT INSURANCE) of fifty cents ($0.50) for each one hundred dollars ($100.00) or fraction thereof for value declared in excess of applicable release value set forth above. Any partial loss or damage shall be adjusted pro rata on the basis of any applicable declared value. All limited liability provisions shall apply even if NFA packs, packages and labels Goods on Customer’s behalf. NFA shall not have any liability whatsoever for any consequential, indirect, punitive or special damages, including, but not limited to, loss caused by delay, loss of revenue, income, profit, market value, utility and/or profit, and emotional distress whether or not NFA had knowledge that such damage(s) might be incurred. NFA reserves the right to inspect all Goods to be shipped, and shall be permitted to perform additional wrapping or packing, at Customer’s cost when NFA deems it to be necessary. NFA is not bound to transport Goods by any particular means, schedule, vehicle or otherwise, but must transport Goods with reasonable dispatch, unless otherwise agreed to in writing. Customers shall be liable for the freight and other lawful charges accruing on the shipment as billed. Customer agrees to indemnify, defend and hold NFA harmless from and against any claim asserted against NFA by a third party for loss or damage to Goods, persons, and property other than Goods, including applicable costs and attorney’s fees and disbursements. Customer accepts and assumes risk of loss of Goods stolen by thieves or hijacking. The parties agree that the terms of 49 U.S.C. 14706 (c)(1)(A) and (B) will apply if applicable to a particular shipment. Nothing herein shall waive, diminish, or lessen any protection which NFA may have pursuant to any statute, rule or regulation of the United States, any state or territory thereof or any other jurisdiction governing a particular shipment. Customer’s liability for payment of additional charges that may be found to be due after delivery shall be as specified by 49 U.S.C. 13706 (or any successor statute), if applicable to a particular shipment. NFA assumes no liability and shall not be held responsible for any loss or damage to the Property or any delays, costs, expenses, liabilities or claims due to the acts or omissions of any third party service providers, and undertakes only to use reasonable care in the selection of third party service providers and others to whom it may entrust the Property for services requested by Customer which are not performed directly by NFA. When NFA physically handles the Goods, including when acting as a carrier directly transporting Customer’s Goods, NFA does so subject to the limitations of liability set forth in these Terms and Conditions.
Exclusions
NFA shall not be liable for loss, damage or delay caused by including, without limitation, acts of nature (including hurricanes, typhoons, tornadoes, cyclones, other severe storms, winds, lightning, floods, earthquakes), fires, explosions, disease, or epidemics; acts of war (declared or undeclared), armed conflict or other hostile action; civil war, rebellion, revolution, insurrection or usurpation of sovereign power, anarchy, rampant lawlessness, civil or legal disobedience or any other major disruption to the rule of law and/or governmental stability; riots or other civil commotion; terrorism (including hijacking, sabotage, chemical or biological attacks, nuclear events, bombing, murder, assault and kidnapping) or the threat thereof; strikes or similar labor disturbances; shortage of fuel, break down or mechanical defect of vehicles or equipment, a faulty or impassible highway, shortages of critical materials or supplies; action or inaction of governmental authorities having jurisdiction over the Services,(including the imposition of restrictions on material aspects of the applicable Services, or the revocation or refusal to grant licenses or permits, where such revocation or refusal is not due to the fault NFA, infestation or other causes of active deterioration, act or default caused by Customer, defects or inherent vice in Goods, or other causes beyond NFA’s control (“Uncontrollable Events”). NFA is not liable for loss or damage to Goods after delivery, or installation, or after departing an installation site. NFA shall have no liability for loss or damage to any of the following: items improperly/inadequately packed or mislabeled; Goods having internal or concealed damage or breakage; glass and ceramic with existing cracks; Goods damaged as a result of inherent vice or weakness due to poor craftsmanship in fabrication; Goods containing internal mechanics or instrumentation; Goods with waxen, resinous, or viscous surface areas be they in wet, semi-dry, or in a hardened state; Damaged or excessively worn antiques; Goods in disrepair, Goods exhibiting prior repairs or breakage; Uncured and/or not thoroughly dry objects of art, paintings, uncured and/or unset varnish applied to furniture; Goods with directional orientation to which Customer does not affix descriptive arrows in advance; Goods shipped unwrapped at the stated request of the shipper; Loss or damage to mirrors, glass, marble, or stone; loss of or damage from ordinary wear, tear or deterioration as a result of natural climatic changes which may occur despite NFA’s efforts to maintain a controlled climate during storage or transit; loss of or damage to any article, pair, or set of articles consisting, when complete, for use of several Goods; NFA shall be liable only for the separate value of such item without respect to any special value claimed for such item as a part of the article, pair or set of articles; unexplained or mysterious disappearance; Loss or damage or missing Goods resulting from shipper’s, owner’s, or third-party’s packing or unpacking. Customer acknowledges that NFA shall have the right to interpret any subjective terms used above (e.g., “inadequately packed”, “inherent qualities,”) as is reasonably and commonly acceptable in the fine art handling industry and as applied against common and previous occurrences in the normal course of handling fine art, antiques and comparable property. NFA will not knowingly transport/ship the following Goods under any circumstance: contraband or illegal substances; firearms or ammunition; explosives, chemicals, noxious or other dangerous goods; livestock, plants, biological or hazardous Goods, and any costs and expenses incurred by NFA with regard to NFA’s removal of any such Goods shall be borne by Customer, and Customer agrees to indemnify, defend and hold NFA harmless from and against any and all liability and damage including but not limited to costs for fines, penalties, legal fees, damage to NFA’s equipment and/or personal injury and workers compensation benefits to NFA’s employees, and or personal injury or death to persons, including, without limitation, NFA’s employees, arising out of the shipping, handling, transporting, installing or storage of such prohibited Goods.
Transportation Substitution of Mode or Equipment
Customer authorizes NFA to choose a carrier or other company to transport shipment, and NFA’S obligation is limited to delivery of Goods to any such company. Transportation of the Goods is subject to availability of equipment and the space therein. NFA shall have the right to (i) substitute alternative carriers or other means of transportation, and (ii) select the routing or deviate from the routing shown on ANY bill of lading. NFA is not bound to transport Goods by any particular schedule, train, vehicle or vessel, or in time for any particular market, or in any manner other than with reasonable dispatch. NFA shall have the right, in case of physical necessity, to forward Goods by any carrier or route between the point of shipment and the point of destination. When acting as a carrier, NFA has the right in its sole discretion to choose the means, route and procedure to be followed in the transportation and delivery of the Goods. To the extent that the Carmack Amendment (49 USC §14706) (or any successor statute) is applicable to the transportation services provided by NFA as a carrier, all benefits, defenses and exemptions of the Carmack Amendment are incorporated herein by this reference to the fullest extent applicable.
Delivery Requirements; Non-Delivery and Storage; Services
No Goods shall be delivered or transferred, except upon receipt by NFA of complete written instructions from Customer. A reasonable time shall be given NFA to carry out such instructions. If NFA is unable to carry out such instructions due to any reason beyond NFA’s control, or because of loss or destruction of the Goods, including, without limitation, due to Uncontrollable Events, NFA shall not be liable for failure to carry out such instructions and the Goods remaining in storage shall continue to be subject to regular storage charges. If Customer refuses any Goods tendered to Customer for delivery, or if NFA is unable to deliver the Goods to Customer or to the destination designated by Customer for any reason whatsoever, or if the Goods are required to be placed in storage during transit, or the Goods are placed into storage at Customer’s direction for any reason whatsoever, NFA’s liability shall then become that of a warehouseman. Storage charges, based on NFA’s rates or the rates of the operator of a storage facility where the Goods may be stored shall start on the business day after storage commences. Storage may be, at NFA’s option, in any location that provides reasonable protection against loss ordamage. Such storage shall be at Customer’s expense and without liability to NFA.
Right of Rejection
NFA reserves the right to reject Goods when accepting such Goods would likely result in delay or damage to other shipments, equipment or personnel, the Goods are prohibited by law or the shipment or storage of such of Goods would violate these Terms and Conditions or the terms of any agreement between Customer and NFA. This right of rejection shall apply to any tender of Goods to NFA even if a previous tender of similar Goods under similar or dissimilar circumstances was accepted by NFA.
Claims
Claims for loss, damage or delay must be filed with NFA in compliance with 49 C.F.R. §370 (or any successor statute), if and to the extent applicable to a particular shipment. Claims for loss, damage to Goods or delay for which 49 C.F.R. §370 (or any successor statute) is not applicable must be filed in writing with NFA within fourteen (14) days after the delivery of the Goods, except that claims for failure to make delivery must be filed in writing within three (3) months after a reasonable time for delivery has elapsed. Suits for loss, damage, injury or delay must be instituted against NFA (1) for shipments for which 49 C.F.R. §370 (or any successor statute) is applicable no later than two (2) years and one day from the day when written notice is given to the claimant that NFA has disallowed the claim or any part or parts of the claim specified in the notice, and (2) for shipments for which 49 C.F.R. §370 (or any successor statute) is not applicable, no later than one (1) year from the day when written notice is given to the claimant that NFA has disallowed the claim or any part or parts of the claim specified in the notice. Where claims are not filed or suits are not instituted thereon in accordance with the foregoing provisions NFA shall not be liable for any such claims.
Lien on any Property
NFA has a general and continuing lien on any and all Goods in NFA’s possession, custody or control or in transit for all charges, expenses or advances incurred by NFA in connection with any shipments, storage, installation or transportation of the Goods and if any such claim remains unsatisfied for thirty (30) days after demand for its payment is made, NFA exercise all rights and remedies available to NFA at law, in equity or otherwise including, without limitation, to sell the Goods or so much thereof as may be necessary to satisfy such lien and apply the net proceeds of such sale to the payment of the amount due to NFA, at public auction or private sale, upon such notice as may be required by law. Any surplus from such sales shall be returned to Customer. However, in the event that there is a deficiency and monies are owed to NFA after the sale or auction, Customer shall be liable for and shall promptly pay to NFA the deficiency. This lien is superior to any other lien or security interest of any party. Customer shall be responsible to notify any third party having or claiming any interest in the Goods, or any part thereof, including any security interest under the Uniform Commercial Code, of the lien of NFA as set forth herein and in any other agreement between Customer and NFA with respect to the Goods.
Access and Security
Access by Customer and each person authorized by Customer to have access to the any storage facility operated by NFA (a “Facility”) shall be conditioned in any reasonable manner deemed necessary by NFA in order to maintain the security, safety, care, cleanliness of the Facility and for the preservation of good order and operations at the Facility, including having a representative of NFA accompany Customer and each person authorized by Customer to have access to the Facility at any time while in the Facility. Customer may not work or be anywhere within the Facility unless accompanied by employees of NFA or those of its designee, except solely while Customer is within its exclusive private storage room pursuant to an executed occupancy agreement between Customer and NFA. If Customer requires assistance of an art handler, NFA shall designate an art-handler to assist Customer at Customers cost and expense. NFA has rules and regulations regarding which NFA may change from time to time. It is the responsibility of Customer that it and any person authorized by Customer to access the Facility be fully familiar and comply in all respects with such rules and regulations. Any person authorized by Customer to access the Facility or any part thereof is an agent of Customer and shall not have any legal, equitable or possessory rights in the Premises. Customer shall be responsible for the conduct of any person authorized by Customer to access the Facility or any part thereof while at the Facility. If Customer has an exclusive private storage room at a Facility pursuant to an executed occupancy agreement between Customer and NFA, subject to the foregoing, Customer and each person authorized by Customer to have access to the Facility during the normal operating hours of the Facility. NFA shall have the right to deny Customer and any person authorized by Customer access to the Facility if any charges, expenses or advances due NFA remain unpaid for five (5) days after the due date thereof. Smoking or the consumption of food or beverages is prohibited at all times in the Facility.
Release of Goods
Unless the Customer is in default of its payment obligations hereunder, NFA shall release any or all of the Goods in storage and in accordance with written instructions from the Customer. The Customer shall give NFA reasonable prior written notice of each delivery or removal of Goods. Any delivery or removal of Goods at a time other than during NFA’s regular business hours (i.e. 9 a.m. to 4:30 p.m. on Monday through Friday, by appointment only) may be subject to additional charges.
Transfer, Termination of Storage, Removal of Goods
1. NFA reserves the right to, without notice, relocate Goods to any NFA facility and/or move Goods within any NFA facility, at its expense.
2. NFA may, upon written notice to the Customer, without cause, require the removal of any Goods by the end of the next succeeding storage month. If Goods is not removed before the end of the next succeeding storage month, NFA may sell it in accordance with applicable law.
Delivery Requirements
No Goods shall be delivered or transferred from NFA’s facility except upon receipt by NFA of written direction from persons authorized to act on Customer’s account.
Cancellation
NFA may terminate its relationship with Customer at its discretion upon sixty (60) days written notice to Customer. Upon the termination of the relationship with Customerfor any reason, the Customer shall immediately pay NFA all amounts due for Services performed up to and including the date of termination.
No Warranties
Neither NFA nor any of NFA’s agents or employees makes any warranties, expressed or implied with respect to any Services or as to the suitability or fitness for a particular use or purpose of any Facility or part thereof, unless expressly so stated and agreed by NFA in a writing signed by a duly authorized representative of NFA. Without limiting the foregoing, Customer acknowledges that no representations or warranties have been made with respect to the safety, security or suitability of the Facility for the storage of Customer’s property, and that Customer has expert knowledge concerning the storage of works of art, and that Customer inspected the Facility that Customer has made its own determination of such matters including from Customer’s inspection of the Facility. NFA shall have the right at any time, without the same constituting an eviction and without incurring liability to Customer therefor, to change the arrangement and/or location of public entrances, passageways, doors, doorways, corridors, elevators, stairs, toilets, or other public parts of the Facility.
Governmental Requirements
Customer shall be solely responsible to understand and comply with all requirements, laws, ordinances, rules and regulations of all Federal, State and local governmental authorities and of the appropriate departments, commissions, boards and officers thereof, pertaining in any way to the Goods, including, but not limited to, those pertaining to marking, classification, licensing, transporting, exporting and importing the Goods, and shall be solely responsible for, and indemnifies NFA from and against any actions taken or fines or penalties assessed due to the failure of Customer to comply with any such requirements, laws, ordinances, rules and regulations.
Bills of Lading and Warehouse Receipts
Only duly authorized NFA employees may alter the faces of any bills of lading or warehouse receipts. Any estimates for charges for Services on any bills of lading or warehouse receipts are not binding on NFA, but are based upon the information provided to NFA by Customer and are subject to change based upon determination of actual conditions and circumstances.
Indemnity
Customer shall indemnify NFA for all claims, fines, penalties, damages, costs or other sums which may be incurred by NFA for any reason, including, but not limited to, any violation of by Customer of these Terms and Conditions or the terms of any agreement between Customer and NFA, and for, damage to, theft of, demurrage on and detention charges to equipment procured by NFA for Customer in connection with any Services performed for Customer.
Updated 11.27.23