Vault Receipt

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Vault Receipt

A guarantee that a seller will deliver commodities to a certain warehouse for storage. A vault receipt is a way to settle a futures contract, especially one on precious metals, in lieu of actual delivery. A vault receipt is also called a warehouse receipt.
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The objective is to support increased access to finance for SMEs in the SACGOT area and explore innovative financing instruments to finance SMEs in agribusiness, which could include venture capital support, collateralization through warehouse receipts, and charter banks.
ii) Increased Access to Credit: The exchange will facilitate the standardization of warehouse receipts, increasing its use and acceptability as collateral for loans.
It is part of the Global Warehouse Finance Program (GWFP), which provides banks with liquidity to finance its clients using warehouse receipts as collateral.
Assistance is also being provided for construction of scientific warehouses to enhance small and marginal farmers retention capacity and to enable them to avail marketing credit by way of pledge financing and Negotiable Warehouse Receipts System (NWRs).
To provide interest subvention to small and marginal farmers having Kisan Credit Cards for loan against negotiable warehouse receipts for post harvest at 7 percent per annum.
They will attract two global tea processors to Mombasa, regulate milk hawking, develop warehousing (there is already a warehouse receipts bill in Parliament) and cold chains and make Mombasa a food value hub and all these could create 200,000 jobs.
The SBL may be increased by an additional 10% provided that the additional liabilities are adequately secured by trust receipts, shipping documents, warehouse receipts and similar documents.
Beltran, there are pending bills in Congress that seek to strengthen the existing secured transactions framework and modernize the country's warehouse receipts system.
Beltran said the DOF will also continue its efforts to help make the PBDB fully operational this 2018 and will help spearhead with the SEC the launching of the national warehouse receipts system after the enactment of the Warehouse Receipts Law, which is targeted for approval by the Congress in 2018.
The National Warehouse Receipts System, which will be launched once legislated in Congress, will be under the SEC.
proZiddu's solutions, empowered by blockchain technology, offer lending against collateralised warehouse receipts in the form of Ziddu coins.