The Norfolk Childcare Company LTD

Assett Sign Out Form

Managers Name:  
Managers Email:  
Setting:  

Staff Members Name:  

Asset Type:  
Asset ID:  
Accessories:  
Damage:  

Booking Length:  

Liability Clause for Asset Booking Agreement

This Liability Clause ("Clause") is an integral part of the Asset Booking Agreement ("Agreement") entered into between , hereinafter referred to as the "Company," and , hereinafter referred to as the "Employee." This Clause outlines the Employee's responsibility for any damage, loss, or unauthorised use of company assets that are taken home under the terms of the Agreement.

1. Asset Responsibility:
1.1 The Employee agrees to take full responsibility for any company assets allocated to them under this Agreement, including but not limited to equipment, devices, tools, or any other tangible or intangible assets ("Assets").

2. Care and Custody:
2.1 The Employee shall exercise reasonable care and diligence in safeguarding and using the Assets.
2.2 The Employee shall ensure that the Assets are used only for legitimate business purposes as defined by the Company.

3. Damage or Loss:
3.1 In the event of damage, loss, theft, or unauthorised use of any Assets while in the possession or control of the Employee, the Employee shall immediately notify the Company in writing, detailing the circumstances surrounding the incident.

4. Repair and Replacement:
4.1 The Employee is liable for any repair, replacement, or recovery costs associated with damaged, lost, stolen, or unauthorised use of Assets.
4.2 The Employee shall cooperate with the Company to facilitate the repair, replacement, or recovery of any Assets as necessary.

5. Liability Limitation:
5.1 The Employee's liability under this Clause shall extend to the full cost of repair, replacement, or recovery of the damaged, lost, stolen, or misused Assets, as determined by the Company.
5.2 The Employee's liability shall not be limited to the original purchase price of the Assets but shall include all associated costs, such as shipping, labor, and any other relevant expenses.

6. Deduction from Salary:
6.1 In cases where the Employee is found liable for damage, loss, theft, or unauthorised use of Assets, the Company reserves the right to deduct the costs associated with repairing or replacing the Assets from the Employee's salary, in accordance with applicable laws and regulations.