Warehouse Receipts System

Scroll down

Booking Delivery
- Through the client-facing applications that is USSD, mobile or website applications clients (especially farmers) can book an intention to deposit a commodity to a specified Warehouse. Once the client books delivery the exchange will broadcast the booking to several logistics companies who will give the client offers to move the commodities from the place of origin to the Warehouse. Clients have a choice to use their own transport arrangements for the delivery of commodities to Warehouses.

Facilitate Grading
- Once commodities are delivered to Warehouses quality inspectors will grade and certify the commodities. Without meeting the minimum standards commodities will not be eligible for trading on the platform. Some of the standards include maximum moisture content levels, the maximum percentage of foreign matter, food consumption requirements, labelling and packaging. In cases where the deposited commodities do not meet the required standards to be tradable or a certain standard that the owner wishes to attain our warehouses are well equipped to assist our clientele to improve their grades through grain cleaning, produce sorting and repackaging or rebagging.

Safe secure storage
- To support the demands of the commodities traded and financed on the exchange ZMX has a network of certified warehouses around Zimbabwe that act as delivery centres for the Exchange. All these Warehouses approved by ZMX have met strict criteria before they were certified for the handling and storage of commodities. Some of the demands of certification are registration with the Registry of Warehouses according to the Warehouse Receipt Act [Chapter 18:25], availability of experienced qualified employees, insurance, suitable infrastructure and adequate security.

Issuance of Warehouse Receipts
- Warehouse Receipts are issued according to the SI 2020-224 Warehouse Receipt (General) Regulations. After commodities are collected when they reach the designated warehouse, the commodities depositor will receive an electronic Goods Received Note. After commodities certification, a physical Warehouse Receipt is issued, lodged with the custodian and the record of the Warehouse Receipt is registered in the Electronic Warehouse Receipt System. The Warehouse Receipts become part of the depositor’s Warehouse Receipts portfolio who can then use the receipt as collateral, a delivery mechanism for an outright sell of the commodities and/or as a delivery mechanism for a financial instrument (such as futures contract).

Post-Harvest Finance
- Warehouse receipt financing is for Warehouse Receipt holders to use the stored commodity as collateral to secure a loan to finance household consumption, investment needs and/or working capital needs in the interim. The holder (which can be a farmer) can through the digital channels, request to pledge their commodities and the banks will have access to remotely accept and decline these pledges

Withdrawal of Warehouse Receipts
- All underlying commodities for held Warehouse Receipts can be withdrawn from the warehouses at any time during normal business working hours. Once the withdrawal has been initiated through any client-facing application clients can visit the Warehouse and collect the commodities

Warehouse Name	Location, Address and Contacts	Approved Commodities For delivery
Bak Logistics	Address: 106 Dartford Road, Harare Hours: Closed ⋅ Opens 7:30 AM Fri Phone: 04 620 0709	Soya bean