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What is a commodate?

Do you know what a commodate is? If you have ever thought about assigning an asset to another person for free and you want to make sure you receive it on a certain date and in optimal conditions, this type of contract will be the best option for your case.

In this context, we are going to see the main parts that compose a commodatum, its characteristics and how Viafirma can help you to optimize this kind of contracts.

Commodate contract: What exactly is it?

A commodate is a contract whereby the owner undertakes to deliver to the borrower a non-expendable, movable or immovable asset for the borrower’s use for a specified period of time and to return it in the same condition.

It is important to mention that this contract is not subject to any type of compensation and in no case the ownership of the property is transferred to the borrower.

In addition, in case of urgency, the owner may demand the return of the borrowed item before the end of the loan term.

On the other hand, there is the figure of the precarious commodate contract, which states that restitution may be made at any time at the request of the bailor.

Two persons agree to sign the commodate electronically

Main characteristics of the commodate

The following is a breakdown of the main aspects to be taken into account for this type of contract:

  • It is a typical or nominated contract, since it is regulated by law.
  • It is a unilateral contract, although it may become an imperfect bilateral contract when the bailor is obliged to compensate the bailee for some special expenses for the conservation of the thing.
  • It is a fully gratuitous contract, since the bailee does not receive anything in return.
  • It is a real contract, since its perfection requires the delivery of the thing.
  • It is of mere tenancy, since the bailee is aware that the loaned good does not belong to him.

SPOILER ALERT: Viafirma offers electronic signature solutions that adapt to all types of contracts without the need of an electronic certificate, including the commodate.

Obligations

Like any other type of contract, the commodate also brings with it obligations for both signatory parties; let’s see which ones below.

Beneficiary

  • Use the property under the terms and conditions agreed in the contract
  • Ensuring its conservation
  • Return the movable or immovable property

Bailor

  • Present the agreed items
  • Do not reclaim the property until the proper use has been made, except in case of urgency
  • Payment of extraordinary maintenance costs

Viafirma to streamline the commodate process

Digital solutions such as Viafirma’s allow to speed up the formalization of any agreement. Moreover, they allow you to define templates for your contracts and incorporate a series of electronic evidences (images, videos, audio files, checkboxes to give consent to clauses, etc) to reinforce the document security.

On the other hand, for a proxy to sign a commodate in your name, it is important that you are using a software able to manage certificates in a secure way and adapted to the current legal framework. For this, Viafirma allows you to delegate your certificate to a trusted third party so that he/she can sign and carry out procedures on your behalf, always with permission control over the certificate in question.

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