Question
Consider the following statement about Electronic Negotiable Warehouse Receipt (e-NW
- R : I. An E-NWR is available only in electronic form. II. E-NWR can be transferred fully only. III. All E-NWRS can be traded through off-market or on-market in Commodity Exchanges platforms. Which of the above statement is/are not correct?
Solution
An e-NWR is available only in electronic form. The single source of information for the e-NWR is the repository system where e-NWR is issued by registered warehouses. Confidentiality, integrity and availability of the e-NWR information is provided by the Repository system. An e-NWR has time validity. All e-NWRS can be traded through off-market or on-market in Commodity Exchanges platforms. An e-NWR can be auctioned under certain conditions such as loan not repaid, on expiry and delivery not taken, and on likely damage or spoilage of the commodity in the warehouse. e-NWR can be transferred fully or in part.
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