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. See
Delivery order. Most warehouse receipts are issued in negotiable form, making them eligible as collateral for loans. Non-negotiable receipts must be endorsed upon transfer. Warehouse receipts are regulated by the Uniform Warehouse Receipts Act.
Warehouse receipts also guarantee existence and availability of a commodity of a particular quantity, type, and quality in a named storage facility. It may also show transfer of ownership for immediate delivery or for delivery at a future date. Rather than delivering the actual commodity, negotiable warehouse receipts are used to settle expiring futures contracts.
Warehouse receipts may also indicate ownership of inventory goods and/or unfinished goods stored in a warehouse by a manufacturer or distributor.
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warehouse receipt — ware·house receipt n: a receipt issued by a person engaged in the business of storage for hire that constitutes a document of title Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. warehouse receipt … Law dictionary
warehouse receipt — Document guaranteeing the existence and availability of a given quantity and quality of a commodity in storage; commonly used as the instrument of transfer of ownership in both cash and futures transactions. Chicago Board of Trade glossary… … Financial and business terms
Warehouse receipt — Evidence that a firm owns goods stored in a warehouse. The New York Times Financial Glossary * * * warehouse receipt warehouse receipt ➔ receipt1 * * * warehouse receipt UK US noun [C] (also warehouse warrant) ► COMMERCE … Financial and business terms
Warehouse Receipt — A receipt used in futures markets to guarantee the quantity and quality of a particular commodity being stored within an approved facility. Rather than delivering the actual commodity, warehouse receipts are used to settle expiring futures… … Investment dictionary
warehouse receipt — noun : a receipt that constitutes a document of title and is issued by a warehouseman engaged in the business of storage for hire * * * a receipt for goods placed in a warehouse. [1885 90] … Useful english dictionary
warehouse receipt — a receipt for goods placed in a warehouse. [1885 90] * * * … Universalium
warehouse receipt — In the most simple sense, an instrument importing that the goods of a named person are in the hands of a named warehouseman. Union Trust Co. v Wilson, 198 US 530, 49 L Ed 1154, 25 S Ct 766. A receipt issued by a person engaged in the business of… … Ballentine's law dictionary
holder of warehouse receipt — A person who has both actual possession of, and a right of property in, a warehouse receipt. Uniform Warehouse Receipts Act § 58. The person in possession of a document of title which is a warehouse receipt. UCC § 1 201(5) … Ballentine's law dictionary
depository or warehouse receipt — A document issued by a bank, warehouse or other depository indicating ownership of a stored commodity. Chicago Mercantile Exchange Glossary … Financial and business terms
field warehouse receipt — Document issued by warehouseman evidencing receipt of goods which have been stored. Such may be used as collateral for loans. See also field warehousing warehouse receipt … Black's law dictionary