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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Further, Diokno said thepassage of the Personal Property Security Act will enhance the access of MSMEs to business and consumer credit by enabling the use of alternative collateral, such as equipment, inventory and warehouse receipts. Signed into law last year, the implementing rules and regulations of Republic Act 11507 have not yet been completed.
These platforms will also be used for the trading of electronic warehouse receipts, offering greater financial inclusion for the farming community through Collateral Management system.
In doing so, a CMC, through its electronic warehouse receipt system, will issue warehouse receipts which can be used by farmers/depositors of agricultural commodity for financing from financial institutions and trading of electronic warehouse receipt at the exchange.
RA 11057 is considered a landmark law as it simplified and harmonized the Chattel Mortgage law of 1906 and other fragmented and outdated financing regulations in the country by enabling borrowers to secure financing using non-traditional collateral such as account receivables, inventory, warehouse receipts, crops, livestock, machinery and equipment.
The government should speed up adoption and implementation of the Warehouse Receipts System Bill if the country wants to achieve its goals on food security.
As per details, collateral management companies will provide storage and preservation services for a range of agricultural commodities and will issue credible warehouse receipts for agricultural commodity financing.
A bill aiming to overhaul the country's warehouse receipts system to help boost farmer's productivity, introduced by Senator Sherwin Gatchalian, has been sponsored by Senator Aquilino "Koko" Pimentel, III, chairman of the Senate Committee on Trade, Commerce, and Industry.
Among these functions are the licensing and registration of persons and entities engaged in the grains business, collection of regulatory fees, issuance of negotiable warehouse receipts, warehouse inspection, authority to seize hoarded stocks and enforce rules and regulations in the grains business.
Under the terms of the MoU, ADB would provide a range of financial services, including warehouse receipts financing, aggregation financing, and settlement of trades.
'The present Senate has worked to grow our economy by passing Bills like the Companies and Allied Matters Act (CAMA), the Secured Transactions in Movable Assets Act, the Credit Bureau Reporting Act and the Warehouse Receipts Bill.
proZiddu's solutions, empowered by blockchain technology, offer lending against collateralised warehouse receipts in the form of Ziddu coins.
First is giving cash transfer directly to the bottom 60 percent of rice farmers, coupled with enabling the farmers the right to opt for paying their creditors/traders with cash from the loan proceeds using the warehouse receipts; or giving up their rice to traders in payment for their debt obligation as now practiced.