Warehouse Receipt System(WRS)
The warehouse receipt is a process where owners of commodities deposit their commodities in a certified warehouse and are issued with documents known as Warehouse Receipt as proof of ownership.
The receipt may be negotiable or nonnegotiable.
Negotiable receipts allow transfer of ownership of that commodity without having to deliver the physical commodity
Nonnegotiable receipts must be endorsed upon transfer
Ware house receipts are eligible as collateral for loans
The Warehouse receipt system, under implementation is envisaged to play a central role in ensuring that the grain market becomes more responsive and structured in trading with an overall aim of strengthening the commodity supply chain and trading regime.
NCPB in piloting the WRS concept has continued to play a key role to support successful implementation of the concept in conjunction with WRSC.
Phase one of the roll out of the warehouse receipt system covers NCPB certified houses in Kitale, Eldoret, Nakuru, Nairobi, and Meru