Main objective of WDRA & its Repository is to implement the electronic Negotiable Warehouse Receipt System in the country, improve the fiduciary trust of the depositors and the banks, increase liquidity in rural areas, encourage scientific warehousing of goods, lower the cost of financing, promote shorter and efficient supply chains, enhance reward for grading and quality and ensure better price risk management. To provide impetus for increasing the use of eNWRs, WDRA is focusing on developing commodity settlement mechanism and dispute resolution mechanism; registration of warehouses in order to achieve the objectives laid out in the WDR Act.
Warehouse Service Provider (WSP) means any person who is registered with WDRA having requisite infrastructure, manpower, skills, knowledge, experience and expertise to perform the services and that of related activities and also that it has, its own independent, trained and experienced staff having the requisite skills and knowledge to perform the warehousing and related services as per Repository guidelines.
Role & Responsibility
As per WDR Act warehouseman is responsible for depositor KYC, quality and quantity check, issuance of electronic warehouse receipt, delivery to holder of the commodity etc. NERL is going to cater all segment of the depositor community, financial institutions and allow issuance of both eNWR and eWR. Warehouse will be responsible for issuance of eNWR and eWR and maintenance of its underlying commodity.
Warehouses that are registered with WDRA
All warehouses that are registered with WDRA, will be provided an access to Repository system.