Upgrade of 107-year-old Warehouse Act to provide agriculture with more financial tools 0 SHARES Share it! He said the aim of the bill is to revitalize and overhaul the warehouse receipt system of the Philippines. ‘’Primarily, this will be done through the establishment of an online centralized registry of warehouse operators and warehouse receipts,” said Gatchalian during his co-sponsorship speech on the measure. SB 2171 provides for the creation of an online and uniform registry system where all electronic warehouse receipts can be registered and accessed. Through SB 2171, Gatchalian expressed optimism that a more secure and transparent framework for the trading of warehouse receipts will prompt banks to be amenable in accepting farmers’ warehouse receipts as collateral for loans.

Source: Manila Bulletin February 02, 2019 08:42 UTC