Washington Warehouse Receipt for Cotton

• Category: Contracts - Storage
• State: Multi-State
• Control #: US-0079BG
• Format: Word; Rich Text

Description

A warehouse receipt is a document showing that title to goods is stored with someone else. It is a receipt issued by a person engaged in the business of storing goods for a fee. Generally, a warehouse receipt is considered a document of title. A negotiable instrument can also be taken as a warehouse receipt and is often used for financing with inventory as security. Washington Warehouse Receipt for Cotton is an essential document that serves as proof of ownership for cotton stored in a warehouse in Washington state. This detailed description aims to shed light on the significance and types of Washington Warehouse Receipts for Cotton, outlining their purpose and key features. A Washington Warehouse Receipt for Cotton is a commercial document issued by a licensed warehouse operator in compliance with the Washington State Warehouse Act. It signifies the storage and ownership status of cotton held within a designated warehouse facility. This receipt plays a vital role in facilitating trade, financing, and risk management for cotton producers, merchants, and other stakeholders in the industry. It acts as a negotiable instrument, allowing the transfer of ownership or pledge of stored cotton as collateral for loans. The Washington Warehouse Receipt for Cotton typically contains various key details, including: 1. Warehouse Information: Clearly mentions the name, address, and license number of the warehouse facility where the cotton is stored. 2. Receipt Number: A unique identifier assigned to each receipt for tracking and reference purposes. 3. Date of Issue: Indicates the date when the receipt was originally issued. 4. Commodity Description: Provides information regarding the specific grade, type, quantity, and quality of cotton stored in the warehouse. 5. Markings and Condition: Describes any unique markings or labeling on the cotton, along with details about its physical condition, such as moisture content or weight. 6. Warehouseman's Signature: The authorized representative of the warehouse signs the receipt, validating its authenticity. Types of Washington Warehouse Receipts for Cotton: 1. Negotiable Warehouse Receipt: This type of receipt allows the transfer of ownership through endorsement, enabling the holder to buy, sell, or pledge the cotton as collateral without requiring physical delivery. 2. Non-Negotiable Warehouse Receipt: Also known as a straight receipt, it indicates that the cotton can only be delivered to the person whose name appears on the receipt. It limits the transfer of ownership and is often used when no further commercial transactions are anticipated. 3. Interim Receipt: Issued when the cotton is stored temporarily or during the transition process from one type of receipt to another. Interim receipts carry limited rights and may be replaced with a negotiable or non-negotiable receipt upon request. In conclusion, Washington Warehouse Receipts for Cotton are crucial documents that provide evidence of ownership and storage conditions of cotton in Washington state. They come in different types, namely negotiable, non-negotiable, and interim receipts, each serving a specific purpose in facilitating trade and financing within the cotton industry.

Washington Warehouse Receipt for Cotton is an essential document that serves as proof of ownership for cotton stored in a warehouse in Washington state. This detailed description aims to shed light on the significance and types of Washington Warehouse Receipts for Cotton, outlining their purpose and key features. A Washington Warehouse Receipt for Cotton is a commercial document issued by a licensed warehouse operator in compliance with the Washington State Warehouse Act. It signifies the storage and ownership status of cotton held within a designated warehouse facility. This receipt plays a vital role in facilitating trade, financing, and risk management for cotton producers, merchants, and other stakeholders in the industry. It acts as a negotiable instrument, allowing the transfer of ownership or pledge of stored cotton as collateral for loans. The Washington Warehouse Receipt for Cotton typically contains various key details, including: 1. Warehouse Information: Clearly mentions the name, address, and license number of the warehouse facility where the cotton is stored. 2. Receipt Number: A unique identifier assigned to each receipt for tracking and reference purposes. 3. Date of Issue: Indicates the date when the receipt was originally issued. 4. Commodity Description: Provides information regarding the specific grade, type, quantity, and quality of cotton stored in the warehouse. 5. Markings and Condition: Describes any unique markings or labeling on the cotton, along with details about its physical condition, such as moisture content or weight. 6. Warehouseman's Signature: The authorized representative of the warehouse signs the receipt, validating its authenticity. Types of Washington Warehouse Receipts for Cotton: 1. Negotiable Warehouse Receipt: This type of receipt allows the transfer of ownership through endorsement, enabling the holder to buy, sell, or pledge the cotton as collateral without requiring physical delivery. 2. Non-Negotiable Warehouse Receipt: Also known as a straight receipt, it indicates that the cotton can only be delivered to the person whose name appears on the receipt. It limits the transfer of ownership and is often used when no further commercial transactions are anticipated. 3. Interim Receipt: Issued when the cotton is stored temporarily or during the transition process from one type of receipt to another. Interim receipts carry limited rights and may be replaced with a negotiable or non-negotiable receipt upon request. In conclusion, Washington Warehouse Receipts for Cotton are crucial documents that provide evidence of ownership and storage conditions of cotton in Washington state. They come in different types, namely negotiable, non-negotiable, and interim receipts, each serving a specific purpose in facilitating trade and financing within the cotton industry.