Section 25: General obligations of a warehouseman

In the conduct of its warehousing business, a warehouseman shall -

(a) issue a negotiable warehouse receipt only in respect of such goods that have been specified by the Authority from time to time;

(b) deliver the goods referred to in a negotiable warehouse receipt, to the holder of the negotiable warehouse receipt on demand made by the holder after satisfying the warehousing lien;

(c) ensure that the negotiable warehouse receipt holder, on receiving the goods from the warehouseman, acknowledges the receipt of the goods in a form and manner required by the Authority;

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(d) take necessary actions to maintain the quality and quantity of goods stored in the warehouse;

(e) maintain and record a complete and accurate set of records and accounts of all transactions pertaining to the operation of a registered warehouse as per the requirements that the Authority may specify from time to time;

(f) ensure that the physical inventory tallies exactly with the record;

(g) maintain effective control of all registered warehouse storage space;

(h) provide necessary assistance in the execution of inspections and audits by the Authority;

(i) resolve grievances efficaciously;

(j) not differentiate among depositors regarding use of and access to a warehouse;

(k) not store goods belonging to itself in a registered warehouse; and

(l) not sell, remove or dispose of the goods deposited in a registered warehouse except as permitted under the Act.