Warehouse Receipt System Council (WRSC) is a State Corporation established under the Warehouse Receipts System Act No. 8 of 2019.
Warehouse Receipt System (WRS) is a process where owners of commodities (Farmers or Traders) deposit their commodities in a certified warehouse and are issued with a document of title called a Warehouse Receipt as proof of ownership. The Warehouse Receipt is transferable and negotiable.
Trusted regulator of a sustainable Warehouse Receipt System that supports structured agricultural commodities trade.
To develop and regulate a Warehouse Receipt System for agricultural commodities in Kenya.
How Warehouse Receipt System Works
A person intending to operate the business of warehouse storage of agricultural commodities and issuance of warehouse receipts shall apply for a warehouse operator’s license to the County Executive Committee member of a county government.
The County Executive Committee member shall, upon being satisfied that the applicant meets the requirements for the issuance of a license, require the applicant to provide a performance bond equivalent to ten per-cent of the value of the commodity that the applicant predominantly stores or intends to store in the warehouse.
The applicant shall pay a non-refundable application fee to the County Executive Committee Member. The County Executive Committee Member shall issue a license upon receipt of the license, the warehouse operator shall, within 14 days, provide the performance bond.