Section 6 in The Warehousing Development and Regulatory Authority (Electronic Negotiable Warehouse Receipts) Regulations, 2017
6. Conversion of electronic warehouse receipt to electronic negotiable warehouse receipt or conversion of paper based Negotiable Warehouse Receipt to electronic Negotiable Warehouse Receipt.
(1)The repository, with the prior approval of the Authority, shall put in place a system for conversion of electronic warehouse receipt to electronic negotiable warehouse receipt or existing negotiable warehouse receipt issued in paper form to electronic negotiable warehouse receipt so as to facilitate its management in the repository system.(2)A depositor may submit a request for conversion of electronic warehouse receipt to electronic negotiable warehouse receipt or conversion of existing negotiable warehouse receipts issued in paper form to electronic negotiable warehouse receipt, to the repository or to its agent.(3)The repository or its agent after verification shall forward the request to the warehouseman for getting the goods assayed, in terms of their quality, after due intimation to the depositor:Provided that in case of conversion of paper negotiable warehouse receipt to electronic negotiable warehouse receipt, assaying of the goods may not be mandatory.(4)The Warehouseman, after entering all relevant information, shall generate a unique electronic negotiable warehouse receipt number which shall be updated in the repository system.(5)In case electronic warehouse receipt is issued on deposit of goods in a warehouse pending quality assessment report from laboratory or any other kind of verification, it shall be converted to electronic negotiable warehouse receipt upon completion of such assessment or verification.(6)The repository shall intimate the depositor and warehouseman about the conversion to electronic negotiable warehouse receipt, through electronic means, mobile applications or such other means as may be laid down by the Authority and a print copy of the electronic negotiable warehouse receipt so created shall be given to the depositor, if requested.(7)The Warehouseman shall maintain the existing warehouse receipts and negotiable warehouse receipts issued in paper form for record purposes, for the period of time the underlying goods remain in the storage in part or full.
