Warehouse Receipt System ( Sistem Resi Gudang)

WAREHOUSE RECEIPT

A.    DEFINITION OF WAREHOUSE RECEIPT SYSTEM

Warehouse receipt system are the Regulationivities related to the issuance, transfer, granting, and the completion of the transRegulationion receipt, the warehouse like the description in article 1 point 1 of the Regulation No. 9 of 2006.

While named after the warehouse is a document proof of ownership of goods stored in the warehouse which was published by the warehouse manager (article 1 point 2).

Every owner of the goods at the warehouse store are entitled to a warehouse receipt (article 6, paragraph 1). Warehouse Manager published for each warehouse receipt storage of goods after the owner of the goods delivered the goods (pasala 6 paragraph 2). In terms of warehouse receipt are damaged, the building manager is obliged to publish a substitute warehouse receipt at the request of the holder of the warehouse receipt (article 7 paragraph 1). Warehouse receipt, a replacement has the same legal power with a warehouse receipt is replaced (article 7, paragraph 5).

Goods are any moving objects that can be stored within a certain period and traded in General (article 1 point 5). As for the definition of mixed goods are goods that are naturally in the prRegulationice of a trade or customs regarded immediately as a unit in the unit and can be stored in a mixed (article 1 point 6).

Warehouse receipt holder is the owner of the goods or the parties that receive goods owners or transitioning from another party to receive further diversion (article 1 point 7). Because the warehouse receipt is a transferable securities and sold multiple times, then the holder of the warehouse receipt, most recently is the party that is entitled to the goods stored in the warehouse.

The warehouse manager is the doing business warehousing warehouse belonging to either your own or someone else's property, nor does the storage, maintenance, and monitoring of goods stored by the owner of the goods. The warehouse manager is entitled to 64ba published the party warehouse receipt (article 1 point 8), in addition to the tiu Manager warehouse must be legal business entity-body shape (PT private, PT Persero, Co-operative and public corporation). Warehouse manager who's been accredited can be BUMN such as Graha Reksa, Perum Bulog and so on.

Working capital credit periods should be adapted to the durability or power-save products in a warehouse, with a view to anticipating future bad credit occurs when the bank can still sell goods warranted in the warehouse. Therefore, the bank should be cautious in assessing the quality and product value decreased during the period of storage. The accuracy in estimating the price of goods at the moment and at maturity the badly needed bank credit to determine the amount of credit limit accordingly. The banks can do a cross check the price of the commodity in question through the commodity futures market, auction market, commodities, and the public market.

B.     REGULATION OF WAREHOUSE RECEIPT AND

Warehouse receipt is set was first regulated in Regulation No. 9 of 2006. In addition the Government Regulation daitur No. 3 in 2007, and also in the PK BAPPEBTI No. 9 in 2008.

The difference with warehouse receipt pawn that is in pawn any element of the submission of full powers over goods warranted from the debtor to the creditor. Pawn items are completely in the power of creditors. So that the debtor could not borrow from usage, make use of the item, or trade in such goods freely. On the contrary in the warehouse, the goods receipt, the system guarantees deposited by third pihka (warehouse Manager has accredited), but even then the debtor can still freely transfer or trade in goods by commodity futures etc. While the persamaanya is the same object moving objects and equally gives privilege, although the pawn and Sage jamina object repository is the same however there are differences such as: goods that pawn moves in larger type, while in the warehouse receipt goods which can be pledged against limited i.e. agricultural, forestry, and fishery specific.

C. CHARREGULATIONERISTIC OF WAREHOUSE RECEIPT

As for the features of the warehouse receipt, guarantee rights meet the criteria as the material rights are as follows:

1. Accessoir

The incidence of this warehouse receipt warranty ak be preceded by an agreement to borrow money as the principal agreement. Debt repayment guarantees as then made an additional agreement/treaty follow-up in the form of an agreement with the rights guarantee of receipt warehouse.

2. as security of settle

Because of the Treaty of guarantee of the Sage barn is accesoir then the agreement itself has only as a guarantee for repayment of debt principal in the agreement.

3. control of object guarantees are in the hands of the warehouse manager

In the warehouse receipt, guarantee, warranty objects objects are in the hands of third parties as the warehouse manager has obtained the approval of the Board of Trustees.

4. Meet basic specialties and the principle of publicity

Meet the principle of speciality, namely that in the deed of Covenant rights guarantees compulsory mention clearly and definitely, which guaranteed the receivable and the amount or value of the loan guarantees. (article 14 paragraph 2 of REGULATION No. 9 of 2006). Whereas the principle of publicity in fulfilling the obligation to notify the agreement there is a fastener warehouse receipt as a guarantee of the right to notify the agreement binding the sages shed as a right guaranteed to regristrasi Center and warehouse manager. (article 13 of Regulation No. 9 of 2006)

5. Droit De Preference

Recipient warehouse receipt warranty rights (the creditor) has a right to material sales top go before the guarantee is the right material, in which case the debtor do tort top of obigation against the lender.

6. Parate Executie

With the separatist position and the right's preferred lender owned, then the rights guarantee of the sages shed as part of the legal guarantee of the material as well as the German fiducia and dependents, then the creditor rights guarantees receipt recipient warehouse reserves parate executie and dun of credit the proceeds pledged objects without a executoriale title.

D. PUBLISED OF WAREHOUSE SUBSTITUTED

Warehouse receipt issued by the warehouse manager is missing or damaged, possibly necessitating possible existence of rules about the replacement of the Sage publishing warehouse receipt or warehouse replacement. It would have been anticipated in article 7 paragraph 1 of REGULATION No. 9 of 2006 which stated that in the warehouse receipt is lost or damaged, the warehouse manager is obliged to publish a substitute warehouse receipt, as referred to in paragraph 1 must be accompanied by evidence that can be accounted for by the law (article 7, paragraph 2). Manager warehouse as referred to in paragraph 1 be liable for any loss suffered by any party as a result of not to grafted a sign said "the sages shed replacement" (article 7, paragraph 3). The warehouse receipt is lost or damaged was declared invalid after substitute warehouse receipt issued (article 7 paragraph). A substitute warehouse receipt, as referred to in paragraph 1 have the same legal force as a warehouse receipt is replaced (article 7, paragraph 5).

Missing or defective Sage sheds cannot change the legal status of the warehouse receipt holder as the owner of the goods, it is set in the explanation of law No. 9 of 2006 article 7 paragraph 1 stating that a warehouse receipt is lost or damaged does not change the status of the warehouse receipt holder as the owner of the goods. Therefore, the warehouse manager has an obligation to publish a new warehouse receipt that contains the description of the number and the date of publication of the original warehouse receipt marked with the word "Sage shed replacement". The Sage barn categorized damaged if one or more things that should have been listed in the warehouse receipt, as referred to in article 5 do not read, erased or lost.

But in terms of warehouse receipt is lost, so is the evidence that can be accounted for, among others, is evidence in the form of affidavits from institutions authorized to explain about the disappearance of the Sage barn and other supporting documents.

E. PRREGULATIONIC OF WAREHOUSE  RECEIPT SYSTEM

Before there is Regulation No. 9 of 2006, trade Regulationices and credit financing scheme similar to the Regulationual warehouse receipt is often done in business Regulationivity in Indonesia although there has been no law No. 9 of 2006 that set it up, it's just a prRegulationice before there was a warehouse receipt Regulation No. 9 of 2006 is run through a model fiduciary guarantee. because basically the warehouse receipt and the further development of the fiduciary guarantee.

After the publication of law No. 9 of 2006 about the Sage barn, agricultural commodity trade execution by using the warehouse receipt is expected to increase even more. Warehouse receipt is a document that proves that a commodities (e.g. grain) with a particular number and quality has been stored in a warehouse. These documents can be used for the transRegulationion similar to "worthless paper", so that farmers can apply for financing to the financial institution (bank/non-bank) which already cooperation is bound to meet cash needs. At least there are five conditions that must be met in order for the Sage barn can run optimally namely:

1.      Commodities are stored are vulnerable to price fluctuations, but the specific time period the price can go up.

2.      the Commodities have a power save long enough like rice, corn, and soybeans.

3.      Warehouse are eligible and should already be a silo.

4.      Commodities stored easily estimated and there should be an expert estimate especially for the Manager of the Fund.

5.      the Superintendent or the holder of the key to the warehouse must be trustworthy.

In the warehouse receipt, pattern, farmers save rice plants to the warehouse manager, and then farmers got the evidence storage in warehouse receipt form. The next warehouse receipt any warranty (such as securities) to financial institutions to get bailouts. Farmers get funds worth 70% (for example) of the total rice that is deposited in the warehouse based on the prevailing price in the market at that time. After walking some time (3-4 months), i.e. at the time of famine or at the time of the price in the market is high enough, the owner of the funds as well as the Manager/caretaker menjula grain warehouses belonging to the farmers. The sale is usually done using the auction system to get the highest, then after deducting the sales price of rice farmers (price at time of receipt, the warehouse agreement), there will be a price difference or advantage, then the profit is shared throughout the control Regulation.

F. ASSURANCE RIGHT ON THE WAREHOUSE RECEIPT

Regulation No. 9 of 2006 about the warehouse receipt system article 12, States that:

1.      warranty rights Agreement is the agreement of a follow-up agreement on debts which became the principal agreement.

2.      each warehouse receipt issued can only be charged one guarantee debt.

The Agency guarantees have been provided for in law No. In 1996 on the rights of the dependants is the implementation of article 51 Regulation of Agrarian and simultaneously as a surrogate agency mortgages over land and creditverband. In addition, other guarantees of rights that are widely used nowadays is the pledge, mortgages other than land, and fiduciary guarantee. However, the warranty provisions of and having regard to their nature, Sage sheds can not be made the object encumbered by any of those forms of guarantee between. The Regulation is intended to accommodate the needs of the holder of the warehouse receipt upon the availability of funds through the institution of bail without having to change the legal structure of the guarantee institutions which already exist.This Regulation creates a separate guarantee legal institutions outside of the guarantee institutions which had existed the so-called "right of jamianan over the Sage barn" as one means to help business Regulationivities and provide legal certainty to the parties concerned.

In article 14 of Regulation No. 9 of 2006, States that:

1.      right to security against Sage imposition warehouse is made by deed of Covenant rights guarantee.

2.      the guarantee agreement shall contain at least:

a.       the identity of the giver and receiver right guarantee

b.      the Data subject agreement secured by collateral rights.

c.       the warehouse receipt Specification waranted

d.      the value of debt guarantees.

e.       the value of the goods based on the market price at the time the goods are entered into the warehouse.

WAREHOUSE RECEIPT WARRANTY RIGHTS BASED on PP No. 3 of 2007

The imposition of the rights guarantee of the Sage barn is also regulated in REGULATION No. 36 of 2007 article 16 to article 24. As for article 16 PP No. 36 in 2007, stated that:

1.      the Sage barn can be vested with rights guarantee for repayment of the debt.

2.      the rights of guarantee referred to in paragraph 1 give the position of the seat to take precedence for a recipient's right to security against other creditors.

3.      each warehouse receipt issued can only be saddled with debt guarantees.

WAREHOUSE RECEIPT WARRANTY RIGHTS BASED on REGULATION No. BAPPEBTI HEAD 09/BAPPEBTI/PER-SRG/7/2008

The next warehouse receipt, guarantee is also regulated in the Regulations the head BAPPEBTI number 09/BAPPEBTI/PER-SRG/7/2008 about the technical guidelines on the granting of a warehouse receipt, took effect July 24, 2008 (PK BAPPEBTI 09/2008).

In order to guarantee implementation of the warehouse receipt enforceable in accordance with the provisions of laws and Regulations, and to provide legal certainty and guarantee the interests of the community, needs to be a guarantee of Sage sheds. The securing of warehouse receipt using the SRG-online provided by the registration center.