Common use of Warehouse Receipts Clause in Contracts

Warehouse Receipts. 1. The warehouse operator when choosing the option to issue Electronic Warehouse Receipts (EWRs) instead of paper warehouse receipts for the agricultural product(s) stored in their warehouse agrees to: a. Only issue EWRs through a provider whom FSA has approved. b. Receive written authorization from FSA at least 30 calendar days before changing providers. Upon authorization a warehouse operator may request their current provider to transfer their EWR data from its Central Filing System (CFS) to the CFS of the approved provider whom they select. Warehouse operators must notify all holders of EWRs by inclusion in the CFS at least 30 calendar days before changing providers, unless otherwise required or allowed by the Agency. Warehouse operators may only change providers once a year. c. Cancel EWRs only when they are the holder of the receipt(s). d. Correct information on the EWR only with written notification to the provider. e. Before issuing EWRs, request and receive from FSA a range of consecutive warehouse receipt numbers which the warehouse operator will use consecutively for issuing their EWRs. f. Issue warehouse receipts initially as EWRs. g. Allows a holder the option to authorize any other user of a provider to act on their behalf with respect to their activities with their provider. This authorization must be in writing, acknowledged, and retained by the provider. h. Provisions of §735.300(c) will be applicable to lost or destroyed EWRs. i. Only the current EWR holder may request a paper warehouse receipt in lieu of a EWR with respect to an agricultural product. 2. The warehouse operator will ensure that an issued EWR establishes the same rights and obligations with respect to an agricultural product as a paper warehouse receipt, and possess the following attributes that: a. The person identified as the holder of a EWR will be entitled to the same rights and privileges as the holder of a paper warehouse receipt. b. Only the current holder of the EWR may transfer the EWR to a new holder. c. The identity of the holder must be included as additional information for every EWR. d. An EWR will only designate one entity as a holder at any one time. e. An EWR will not be issued for a specific identity preserved or a commingled agricultural product lot if another receipt, whether paper or electronic, representing the same specific identity preserved or commingled lot of agricultural product is outstanding. No two warehouse receipts issued by a warehouse operator may have the same receipt number or represent the same agricultural product lot. f. An EWR may only be issued to replace a paper receipt if requested by the current holder of the paper warehouse receipt. g. Allows a holder the option to authorize any other user of a provider to act on their behalf with respect to their activities with their provider. This authorization must be in writing, acknowledged, and retained by the provider. h. Provisions of §735.300(c) will be applicable to lost or destroyed EWRs. i. Only the current EWR holder may request a paper warehouse receipt in lieu of a EWR with respect to an agricultural product.