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.
Tennessee Warehouse Receipt for Grain
State:
Multi-State
Control #:
US-0089BG
Format:
Word;
Rich Text
Instant download
Description
How to fill out Warehouse Receipt For Grain?
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FAQ
A warehouse receipt represents ownership of actual physical grain in an Exchange approved warehouse.
A warehouse receipt provides the exchange with documentation that the goods authorized for sale are available and ready for transfer to a buyer.
A vault receipt is an example of warehouse receipt but it is used for metals. Vault receipts show ownership of precious metals stored in a warehouse, bank and other approved facilities. Warehouse receipts are used for commodities stored which will be delivered or used later on.
- (1) The Authority shall be the sole repository of the negotiable warehouse receipt books and shall issue, control and maintain the records of such negotiable warehouse receipt book .
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.
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.
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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. See Delivery order. Most warehouse receipts are issued in negotiable form, making them eligible as collateral for loans.
A warehouse receipt is a document used in futures markets as a proof that certain commodities are kept by the owners within a warehouse. The receipt contains the name of the owner of a commodity, the quantity stored in a warehouse, and the condition of the commodity when it was stored.
