A depositary is an individual or entity designated to hold assets, securities, or property on behalf of another party, typically in a legal context such as a trust agreement or security issuance.
Imagine someone who is officially appointed to be the person who holds valuable things for others. In law, this means they are the official custodian responsible for safeguarding assets according to the rules set by a contract.
It matters because the depositary has the legal duty to ensure that the assets entrusted to them are properly secured and managed according to the terms defined in a legal document, ensuring proper title and protection for the beneficial owner.
Visual model
A party appointed by a court to hold assets under a trust.
A company designated as the custodian for securities held by a client.
Document context
A depositary is an individual or entity legally authorized to hold specific assets, such as property, securities, or funds, on behalf of another party, often under a trust agreement or legal mandate.
It matters because the depositary has the legal duty to ensure that the assets entrusted to them are properly secured and managed according to the terms defined in a legal document, ensuring proper title and protection for the beneficial owner.
It usually appears when establishing a trust relationship, setting up a security holding arrangement, or defining the roles within a legal agreement where one party is tasked with holding assets for another.
It is commonly seen in trust agreements, security documentation, fiduciary assignments, and legal instruments that define the custody of assets.
The depositary is an individual or entity (like a trustee) who has the legal responsibility to hold and manage specific assets for the benefit of the designated owner.
The depositary performs the function of holding the assets, ensuring they are properly secured, accounted for, and protected according to the legal obligations established in the contract.
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Wikipedia
In international law, a depositary is a government or organization to which a multilateral treaty is entrusted. The principal functions of a depositary are codified in Article 77 of the Vienna Convention on the Law of Treaties.
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Disclaimer: We do not provide legal advice. We translate legal language into plain English and help you prepare for a conversation with a lawyer.