IT Asset Inventory and Custodial Agreement Form

IT ASSET INVENTORY & CUSTODIAL AGREEMENT

DOCUMENT CONTROL

• Effective Date: [DD/MM/YYYY]
• Version: 1.0
• Jurisdiction: [State/Province/Country]
• Scope: Corporate IT Infrastructure & Hardware Governance

1. LEGAL NOTICE & COMPLIANCE DISCLAIMER

This document constitutes a binding agreement regarding the custody, usage, and return of corporate property. All assets listed herein remain the exclusive property of [Company Name] ("Company"). Misuse, unauthorized modification, or failure to return assets upon separation of employment may result in disciplinary action, up to and including termination and legal proceedings for recovery.

2. PARTIES

• Company: [Company Name], with its principal place of business at [Company Address].
• Custodian: [Full Legal Name], Employee ID [ID Number], acting as the recipient and designated custodian of the assets listed below.

3. ASSET SCHEDULE

4. OPERATIVE CLAUSES

1. Ownership: All assets listed in Section 3 remain the sole, unencumbered property of the Company. No title or ownership interest is transferred to the Custodian.
2. Duty of Care: The Custodian agrees to exercise reasonable care to prevent damage, theft, or unauthorized access. The Custodian shall notify the IT Department within 24 hours of any loss, damage, or security breach.
3. Prohibited Use: Assets are for business purposes only. The Custodian shall not install unauthorized software, circumvent security protocols, or permit third-party use of Company assets.
4. Data Integrity: The Custodian acknowledges that Company data residing on these assets is confidential and subject to the Company’s Data Privacy and Acceptable Use Policies.
5. Surrender of Property: Upon termination of employment or written demand, the Custodian shall return all listed assets in the same condition as received, normal wear and tear excepted, to the Company’s IT Department. Failure to return assets permits the Company to deduct the depreciated replacement value from final compensation, to the extent permitted by law.

5. ACKNOWLEDGMENT & SIGNATURE

I, the Custodian, hereby acknowledge receipt of the assets listed above. I confirm I have read, understood, and agree to the terms of this Custodial Agreement.

Custodian Signature: __________________________ Date: [DD/MM/YYYY] Printed Name: [Full Legal Name] Title: [Job Title]

Company Representative: __________________________ Date: [DD/MM/YYYY] Printed Name: [Name of IT Manager/HR]

6. EXECUTION & ENFORCEMENT GUIDE

• Verification: Ensure all serial numbers/asset tags are scanned into the master Corporate Asset Management (CAM) system prior to physical handover.
• Witnessing: A member of the IT or HR department must witness the Custodian’s signature to validate the handover.
• Digital Filing: Store the signed original in the employee’s digital personnel file. Provide the Custodian with a countersigned copy for their personal records.
• Periodic Audits: Reconcile this inventory against the physical assets on a semi-annual basis; require the Custodian to re-verify possession if assets remain off-site for >180 days.