Drafting a Model Law on Warehouse Receipts

Dora Neo

Chapter 30 in The Elgar Companion to UNIDROIT, 2024, pp 442-456 from Edward Elgar Publishing

Abstract: Warehouse receipts are documents issued by warehouse operators that entitle the holder to claim the goods stored in the warehouse and covered by the receipt. They can be traded or used as collateral to access much needed credit facilities, thereby boosting economic growth, particularly in, but by no means limited to, the agricultural sector. A major obstacle to achieving the full potential of warehouse receipt financing in domestic and international transactions is that the law and norms relating to warehouse receipts are sometimes undeveloped or unclear, and vary from jurisdiction to jurisdiction. Against this backdrop, the proposed UNCITRAL-Unidroit project for a Model Law on Warehouse Receipts will play a vital role in developing, clarifying and harmonizing the law in this area. This chapter discusses the first phase of the project, involving the preparation of a Draft Model Law of Warehouse Receipts by a Unidroit Working Group from 2020-2023. This chapter explains the background of the project and discusses the legal and commercial framework of warehouse receipts generally as well as some of the challenges faced in the process of harmonization. The main part of the chapter explains the key provisions of the Draft Model Law prepared by the Unidroit Working Group on A Model Law of Warehouse Receipts, including the issue and contents of warehouse receipts, the alteration and replacement of warehouse receipts, transfers of negotiable warehouse receipts and the rights and obligations of warehouse operators.

Keywords: Law - Academic; Politics and Public Policy (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.elgaronline.com/doi/10.4337/9781803924564.00046 (application/pdf)
Our link check indicates that this URL is bad, the error code is: 503 Service Temporarily Unavailable

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:elg:eechap:21631_30

Ordering information: This item can be ordered from
http://www.e-elgar.com

Access Statistics for this chapter

More chapters in Chapters from Edward Elgar Publishing
Bibliographic data for series maintained by Darrel McCalla ().