Alameda California Warehouse Receipt for Grain

Name: Alameda California Warehouse Receipt for Grain
Brand: US Legal Forms
Rating: 4.61 (399 reviews)

Category:

Small Business - Accounting and Finance - Receipts

State:

Multi-State

County:

Alameda

Control #:

US-0089BG

Format:

Instant download

Description

A warehouse receipt is a document that provides proof of ownership of commodities (e.g., bars of copper) that are stored in a warehouse, vault, or depository for safekeeping. Warehouse receipts may be negotiable or non-negotiable. Negotiable warehouse receipts allow transfer of ownership of that commodity without having to deliver the physical commodity. Most warehouse receipts are issued in negotiable form, making them eligible as collateral for loans. Non-negotiable receipts must be endorsed upon transfer. In the United States, warehouse receipts are generally regulated by Article 7 of the Uniform Commercial Code as adopted by the various jurisdictions.

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FAQ

A warehouse receipt is a document on which are itemized the goods stored in a warehouse. The receipt represents title to the goods. Warehouse receipts can be used to sell goods without having to deliver them. Instead, the new owner continues to store the goods in the warehouse.

Warehouse receipts are also recognised as documents of title. To establish title to goods, a warehouse receipt must contain the particulars set out in section 11 of the Warehousing Act.

A warehouse receipt system (WRS) enables farmers to deposit storable goods (usually grains or coffee) in exchange for a warehouse receipt (WR). A WR is a document issued by warehouse operators as evidence that specified commodities of stated quantity and quality have been deposited at a particular location.

Warehouse receipts are negotiable instruments issued by warehouses to farmers that secures and guarantees the storage of a perishable commodity for a specific time period. Warehouse receipts serve as a transferable proof of ownership of a certain good.

A warehouse receipts system facilitates trading logistics. One of the key advantages of a warehouse receipt system is that it facilitates trade through easier liquidation of a commodity. Since warehouse receipts allow the transfer of right to ownership without actual physical delivery, transaction costs are reduced.

Warehouse Receipt is proof of ownership of securities representing goods stored in the Warehouse and issued by the Warehouse Manager. 1 Warehouse Receipt System (WRS) is an activity related to the issuance, transfer, guarantee, and settlement of Warehouse Receipt transactions.

A warehouse receipt represents ownership of actual physical grain in an Exchange approved warehouse.

A warehouse receipt which is made to the order of a named party is known as a bearer instrument. With the order bill of lading, the ownership of the warehouse commodities can be transferred from party to party by endorsing and passing the documents.

A warehouse receipt is a type of documentation used in the futures markets to guarantee the quantity and quality of a particular commodity being stored within an approved facility.

More info

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Alameda California Warehouse Receipt for Grain

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