Final answer:
The listing that serves as a custody receipt when signed by a property custodian is known as a Property Pass, Hand Receipt, or an Equipment Custody Receipt. It includes details of the items being entrusted to the custodian and provides a record of the custodian's responsibility for the items. These documents are vital for asset management and accountability within an organization.
Step-by-step explanation:
When signed by the property custodian, the listing that serves as a custody receipt is typically referred to as a Property Pass, Hand Receipt, or an Equipment Custody Receipt. These documents serve as proof that an individual, known as the custodian, has been given responsibility for certain property belonging to an organization. The signed receipt ensures there is a record of the exchange, delineating the custodian's responsibility for the items listed.
The document generally includes a list of the items being transferred to the custodian's care, their serial numbers, a description of the items, and the condition of the property at the time of the transfer. By signing the receipt, the custodian acknowledges both the receipt of the property and the responsibility to safeguard and properly use it in accordance with the organization's policies. Should the property be lost, damaged, or used inappropriately, the custodian may be held accountable.
These custody receipts are essential in asset management as they provide a method of tracking the location and the condition of the organization's assets. It ensures accountability and helps in maintaining an accurate inventory. It's particularly important when property changes hands, either temporarily for use in a project or permanently if responsibilities are reassigned within an organization.
The process for this transfer of custody typically involves the custodian reviewing the list, confirming that the property is as described, and then signing the document in front of a witness. The witness may also sign the document, providing an additional level of assurance and accountability in the custody transfer process. Once signed, the document is often filed within the organization's records for future reference, in case a review of the property's status or custodial responsibility becomes necessary.