Warehouse Group Updates Standard Terms
With the assistance of the Scopelitis Law Firm, the International Warehouse Logistics Association (IWLA) periodically updates its standard terms to reflect evolving industry practices and issues commonly encountered in negotiations and litigation. Industry members have experienced an uptick in issues related to nonpayment, rising economic pricing trends, bankruptcy, data privacy, and technical issues with the warehouse management system.
To address these issues, the updated terms provide warehouses with greater flexibility to exercise their lien rights, suspend services, or terminate the contract in the event of bankruptcy, all of which may allow operators the ability to proactively deal with non-paying depositors. The revisions further allow the warehouse additional latitude to adjust pricing based on volume and broader economic conditions and clarify data privacy obligations and standards related to the warehouse management systems.
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News from Scopelitis is intended as a report to our clients and friends on developments affecting the transportation industry. The published material does not constitute an exhaustive legal study and should not be regarded or relied upon as individual legal advice or opinion.
Warehouse Group Updates Standard Terms
With the assistance of the Scopelitis Law Firm, the International Warehouse Logistics Association (IWLA) periodically updates its standard terms to reflect evolving industry practices and issues commonly encountered in negotiations and litigation. Industry members have experienced an uptick in issues related to nonpayment, rising economic pricing trends, bankruptcy, data privacy, and technical issues with the warehouse management system.
To address these issues, the updated terms provide warehouses with greater flexibility to exercise their lien rights, suspend services, or terminate the contract in the event of bankruptcy, all of which may allow operators the ability to proactively deal with non-paying depositors. The revisions further allow the warehouse additional latitude to adjust pricing based on volume and broader economic conditions and clarify data privacy obligations and standards related to the warehouse management systems.
News from Scopelitis is intended as a report to our clients and friends on developments affecting the transportation industry. The published material does not constitute an exhaustive legal study and should not be regarded or relied upon as individual legal advice or opinion.