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Salvage Agreement

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Salvage Agreement Powered By Docstoc
					This is an agreement between a property owner and a salvage company. The property
owner turns over their damaged property to the salvage company. The salvage
company agrees to repair the property, if advantageous, and sell the property to the
highest available bidder. In return for their services, the salvage company will receive a
parentage of the sale proceeds. This agreement can be used by small businesses that
operate as salvage companies or by individuals that want to salvage and sell their
damaged property.
                                            Salvage Agreement


        THIS SALVAGE AGREEMENT is entered into as of the day of           , 20__ (the
"Effective Date"), by and between __________________________ (the "Owner") and
________________________________ (the "Salvage Company ").

                                              R E C I T A L S:

    A. On ___________ __,______, Owner suffered a loss due to __________, which
damaged property of Owner, generally described as:

      ________________________________________________________________
      ________________________________________________________________
      (the “Property”)

     B. Salvage Company is engaged in the business of salvaging damaged items.

       NOW, THEREFORE, in consideration of the mutual covenants, warranties and
representations contained herein, the parties hereby agree as follows:

        1. Duties of Salvage Company. Salvage Company agrees to take immediate custody of
the salvage items and to take and sell the same in a manner, which Salvage Company deems
most advantageous. If Salvage Company determines that as to any part of the items, the cost of
removal will exceed the probably recovery, Salvage Company shall give notice of intent to
abandon.

        2. Compensation. Salvage Company shall use its best efforts to sell the salvage items at
the highest prices available, and shall be entitled to receive a commission of ____% percent of
the sale proceeds and shall retain the same until directed by Owner as to distribution of the same.

        3. Entire Agreement. This Agreement, and all exhibits hereto, along with any other
documents or agreements expressly referred to herein, constitutes the entire agreement between
the parties with respect to the subject matter hereof. This Agreement supersedes all previous
agreements between the parties with respect to the subject matter hereof. There are no
agreements, representations or warranties between or among the parties other than those set forth
in this Agreement or in the documents or agreements referred to herein.

        4. Amendments. No amendment, modification, or supplement to this Agreement shall be
binding on any of the parties unless it is in writing and signed by the parties in interest at the time
of the modification.

       5. Severability. If any term or provision of this Agreement is determined to be illegal or
unenforceable, such illegal or unenforceable provision shall be stricken from this Agreement,
and shall not affect the legality or unenforceability of this Agreement.

© Copyright 2011 Docstoc Inc. registered document proprietary, copy not                    2
        6. Attorneys' Fees. If either party to this Agreement shall bring any action, suit,
arbitration, or other proceeding against the other, declaratory or otherwise, to enforce the terms
hereof or to declare rights hereunder, the party prevailing in such action or proceeding shall be
entitled to recover attorneys' fees and costs incurred in prosecuting or defending the action or
proceeding, and in enforcing any judgment, ruling or award granted therein.

        IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective
Date.




© Copyright 2011 Docstoc Inc. registered document proprietary, copy not                 3
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Description: This is an agreement between a property owner and a salvage company. The property owner turns over their damaged property to the salvage company. The salvage company agrees to repair the property, if advantageous, and sell the property to the highest available bidder. In return for their services, the salvage company will receive a parentage of the sale proceeds. This agreement can be used by small businesses that operate as salvage companies or by individuals that want to salvage and sell their damaged property.