Common use of Storage and Insurance Clause in Contracts

Storage and Insurance. If you deposit commodities, documents of title to commodities, or other tangible assets with us or to our control as margin or otherwise, we reserve the right (but have no obligation) to insure them, to charge you and debit your account with the costs of storage and insurance either periodically or when we return the assets to you, and to refuse withdrawal until such costs have been paid. If we collect, deliver or hold commodities or other tangible assets on your behalf, we do so at your risk. Without prejudice to the foregoing, you shall be solely responsible for the taking out of any insurance for the commodities and documents of title subject to the pursuant to the terms for holding hereunder.