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DP List |
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The
depository clearing system has revolutionized
the way settlements are effected at
the Stock Exchanges. With the view to
extend the benefits of demat system,
it has been introduced in the commodity
sphere for the better and efficient
settlement system. Delivery of commodities
can now be effected through warehouse
receipt in demat form.
Warehouse receipts are title documents
issued by warehouses to depositors against
the commodities deposited in the warehouses.
These documents are transferred by endorsement
and delivery. Either the original depositor
or the holder in due course (transferee)
can claim the commodities from the warehouse.
Warehouse receipts in physical form
suffer all the disadvantages of the
paper form of title documents. Some
of these limitations are as follows:
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| Need
for splitting the warehouse receipt
in case the depositor has an obligation
to transfer only a part of the commodities. |
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| Need
to move the warehouse receipts from
one place to another with risk of theft/loss
in transit/mutilation, etc. if the transferor
and transferee are at two different
locations. |
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| Risk
of forgery |
Warehouse receipts in demat form are
free from any of the above-mentioned
limitations. With the warehouse receipt
in demat form the transfer of commodities
from one person to another can be effected
immediately.
All the constituent of the Exchange
such as the members and their clients
are required to open dematerialized
accounts with accredited depository
participants (DPs) of National Securities
Depository Ltd and Central Depository
Services India Ltd to facilitate acceptance
and / or delivery of commodities through
Warehouse Receipts in demat form. |
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| Contact Details |
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| National Bulk Handling Corporation Ltd. |
1st Floor, Plot No.10,
Above Millenium Petrol Pump,
Sector 26, Kopri Gaon,
Vashi, Navi Mumbai - 400705. |
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| Multi Commodity Exchange of India Ltd. |
Exchange Square,
CTS No. 255,
Suren Road,
Andheri (East),
Mumbai - 400093. |
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