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.
Bexar Texas Warehouse Receipt for Grain
State:
Multi-State
County:
Bexar
Control #:
US-0089BG
Format:
Word;
Rich Text
Instant download
Description
How to fill out Warehouse Receipt For Grain?
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FAQ
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.
Receipts must be issued by an authorized warehouse and must represent a commodity that is deemed to be stored commingled. The receipts must be negotiable and must represent a commodity that is the same quantity and quality as the eligible commodity actually in storage in the warehouse of the original deposit.
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 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.
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 may be either non-negotiable or negotiable (means transferable by simple endorsement /signature). Negotiable warehouse receipts are transferred by endorsement and delivery; i.e., either the original depositor or the holder in due course (transferee) can claim the commodities from the warehouse.
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.
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.
