Journal of Legal Research

Journal of Legal Research

The Legal Nature of Bank Safe Deposit Box Contracts: Foundations and Type of Liability

Document Type : Original Article

Authors
Yaser Moradi 1
Mohammad Javad Farahzadi 2
1 Head of Banking Law Think Tank, Imam Sadiq University; PhD in Private Law, Mofid University, Qom, Iran.
2 PhD Student in Private Law, Imam Sadiq University, Tehran, Iran.
10.48300/jlr.2024.459678.2659
Abstract
While the mobilization and allocation of resources constitute the primary function of banks, they also offer safe deposit box services to safeguard customers' valuable assets and documents, such as cash, securities, and precious items. A key legal challenge concerning these services is characterizing the nature of the contractual relationship between the bank and the customer. The central question is whether this relationship constitutes a lease of space, a deposit (wadi’ah), a contract for custodial services (ijārah of persons), or a composite institution that may be classified as an innominate contract. A related issue involves determining the basis and type of the bank's liability. This research concludes that the contract is best justified as a composite agreement (’aqd-e morakkab) combining the hire of things and the hire of persons. Despite the generally fiduciary (amāni) nature of such contracts, considerations of social interest (maslahah-e ejtema’i), legal requirements, and contractual terms establish the bank's liability for loss. Given the bank's professional expertise in safeguarding valuables, its obligation is one of results (ta’ahhod be natijeh). Consequently, the customer need not prove bank negligence, and the bank cannot exonerate itself merely by proving a lack of fault, implying a form of strict liability. This research focuses on the theoretical foundations (maqām-e sobūt) of the bank-customer relationship. In the context of judicial proof and adjudication (maqām-e esbāt), however, the quantum of compensation is subject to judicial discretion based on all evidence, including contractual terms, customary practice (‘urf), and the principle of acquittal (barā’at) regarding any excess.
Keywords
Bank Safe Deposit Box
Deposit
Hire of Things
Hire of Persons
Bank Liability
Strict Liability
Composite Contract
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Journal of Legal Research
Volume 24, Issue 64
Winter 2026
Pages 309-336