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Ethiopian Federal Laws
Go to Laws Index
Title:
The Proclamation to Provide for a Warehouse Receipts
Proclamation No.:
372/2003
Jurisdiction:
Federal
Law Type:
Proclamation
Category:
Agriculture and Rural Development
Country:
Ethiopia 🇪🇹
Format:
PDF (
Amharic and English
)
FEDERAL NEGARIT GAZETA OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA hJtil r . ft } CONTENTS 372/2003 The Proclamation to Provide for a Warehouse 2407 T'f : A : h ftf. t\h : f.tJ hnJ;t : : ftf. : hif:A Ii' f.tJ cp Pnce PROCLAMA TION PROCLAMATION TO PROVIDE FOR A WAREHOUSE RECEIPTS SYSTEM WHEREAS, it has been necessary to introduce a system that enables the farmer whenever supply exceed demand to deliver his products to the warehouseman upon receipt of document of title to the products and to reclaim his products; WHEREAS, the producer benefits from such a system, that constitutes a valid contract between the bailee and the bailor, which entitles the latter to transfer his rights over the stored products to any buyer by simple delivery of the receipt; WHEREAS, the system enables the bailor to borrow money from banks or similar lending institutions upon offering warehouse receipt as collateral; WHEREAS, the system insulates the producer from price shocks; promotes efficient marketing of standardized agricul- tural products and financial activities; NOW, THEREFORE, inaccordance with Article of the Constitution of the Federal Democratic Republic of Ethiopia it is hereby proclaimed as PART ONE General Provisions short Title This Proclamation may be cited as "The Proclamation to Providefor a . i ! 80,001 -
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