i. Storage & Release Records
- a. A comprehensive stock control system, whether manual or computerised, be in place and be in use.
- b. Each parcel or lot shall have a unique reference number.
- c. Storage cards (if used) must be numbered consecutively and these numbers must also be stated on warehouse warrants.
- d. Stock cards (if used) must clearly show if warehouse warrants have been issued - e.g. by means of a red line.
- e. The Specific location of the goods must be recorded.
ii. Warehouse Warrant Records
- a. The warehouse warrant register should show issue and cancellation of warrants, and also locations, number of pieces, markings etc. detailed on the warrant, duly initialled by a competent person.
- b. It must be possible to produce receipt notes in respect of the issued warehouse warrants.
- c. Cancelled and spoilt warehouse warrants must be properly null and voided and must be retained for inspection.
- d. Copies of warehouse warrants must be kept in a separate and fire proof storage system.
- e. Blank warehouse warrants must be kept in a safe.
- f. Warehouse warrants must be numbered consecutively.
- g. The internal issue of blank warehouse warrant forms must be entered up in a notebook kept for this purpose.
iii. Fax and Telex Releases:
a. Fax and/or telex releases should conform to the following format:
- i. Name of selling principal.
- ii. Terms (in warehouse)whether insured or not, irrevocable or conditional release.
- iii. Warehouse reference, including warehouse location.
- iv. Full description of goods, as determined on receipt into warehouse.
- v. Provenance of material which, on onward release, be declared to be the country in which the Warehouse release takes place.
- vi. Number and type of packing units, together with markings.
- vii. Actual gross weight established by the holding warehouse for the released parcel or confirmation that the parcel forms part of a larger 'Global' gross weight.
- viii. Advised net weight.
- ix. Remarks - to include shortages, damages, repairs to packing etc.
- x. Customs Status of the goods - EU customs cleared etc.
- b. Telex/Fax releases and warrants should be kept separately.
iv. Warehouse rent. Warehouse rent is for the account of receiver, as from the date of release.
v. Time of Delivery. See section H of the Consolidated Regulations.
- a. See section E of the Consolidated Regulations.
- b. Gross weights on release to be those determined, or reconfirmed, by the holding warehouse. Gross weights, as advised to the Holding Warehouse by the Seller, may not be used by the warehouse in its release to an MMTA Member
vii. Packing. See section F of the Consolidated Regulations.
Where both parties agree at the time of contract to a conditional release, this shall take the form of a release by the Holding Warehouse to the Buyer to the following general format:
Holding confirmation prior to release
To: [Buyer’s details]
CC: [Seller’s details]
From: [Warehouse’s details]
On the request of [Seller] we confirm holding for your account the parcel(s) as detailed below:
Gross weight: - as ascertained by us
Net weight: - said to weigh or as ascertained if weighed
Marks and Numbers:
Stored in our warehouse:
Under .. conditions
Which will, except in case of force majeure, be released to your order irrevocably only upon our receiving a written confirmation directly sent from Buyer’s bank showing contract number / invoice number, confirming that payment in the amount of [currency and amount] has been unconditionally and irrevocably transferred for immediate value date by SWIFT / telegraphic transfer to:
[Seller’s bank details]
We confirm that the above parcel(s) is stored for account of the Seller and that we shall not accept any other release of delivery instructions until [date and time].
Please note that if the bank’s written confirmation is not received by us latest [date and time] (3 working days from the date of this release) then our undertaking as contained in this holding confirmation will automatically expire, without any notice being required, and shall be of no further force and effect.
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- Informal Dinner, London
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- MMTA International Minor Metals Conference
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