Uniform Warehouse Receipts Act
The Uniform Warehouse Receipts Act (UWRA) is the act that sets forth the regulations governing public warehousing. The regulations define a warehouse manager’s legal responsibility and define the types of receipts he or she issues.
The UWRA was first enacted in 1917 and has been amended several times since then. The most recent version of the act was promulgated in 2011.
The purpose of the UWRA is to protect the interests of both the depositor and the person who receives a warehouse receipt from the depositor. A warehouse receipt is a document that evidences the deposit of goods in a warehouse and provides information about those goods, such as:
- their quantity,
- and owner.
Under the UWRA, warehouse managers are responsible for keeping accurate records about the goods that they store and for maintaining a safe environment in which to store these goods. They must also ensure that all warehouse receipts issued by them meet certain legal requirements, such as those clearly stated on the receipt who holds ownership rights over the deposited goods.
Overall, the Uniform Warehouse Receipts Act helps to ensure that those who use a public warehouse are able to do so safely and securely, with full knowledge of their rights and responsibilities under the act.
The Uniform Warehouse Receipts Act (UWRA) is an important piece of legislation in the field of logistics and supply chain management. As defined by the regulations set forth in this act, warehouse managers have a number of legal responsibilities when it comes to storing goods in a public warehouse, including keeping accurate records of their inventory, maintaining a safe environment for these goods, and issuing receipts that meet certain legal requirements.
Overall, the Uniform Warehouse Receipts Act has had a significant impact on supply chain management and logistics by providing a framework for managing public warehouses effectively and efficiently. Promoting best practices within the industry has contributed to the overall success of these businesses and the goods that they store.