Warehouse Receipt
A warehouse receipt is a document issued by a warehouse to confirm that goods have been received and placed into storage. It serves as official proof that the cargo is under the care of the warehouse operator. The receipt records basic shipment details. It also confirms the date and condition of receipt.
The document usually includes information such as the description of goods, quantity, weight, storage location, and the name of the depositor. It may also outline storage terms and responsibilities. This helps avoid disputes about what was stored and when. It creates a clear record for all parties.
Warehouse receipts are often used for inventory control, financing, or insurance purposes. In some cases, they can be used as collateral with banks. They also support traceability when goods move in and out of storage. Accurate receipts help manage stock efficiently.
Overall, a warehouse receipt provides transparency and accountability in storage operations. It protects both the warehouse and the cargo owner. It ensures goods are properly recorded while in storage. And it supports smooth handling, release, or onward movement of cargo.
Frequently Asked Questions about Warehouse Receipt
Clear answers to the most common questions people have when learning about Warehouse Receipt.
It proves that goods are stored in a warehouse and documents their condition, quantity, and storage terms.
Yes. In some cases, banks accept warehouse receipts as collateral for loans or trade financing.
The warehouse updates records and releases the cargo based on the receipt and authorized instructions.