Professional Documents
Culture Documents
3893
Bonded Warehouse Act
SECTION 2
What is a warehouse?
SECTION 4 & 5
palay in bundles, or
in grains, or
clean rice, or
both.
Who is a person?
Includes corporation or partnership or two or more
persons having joint or common interest;
Who is a warehouseman?
A person engaged in the business receiving rice for
storage.
What is a receipt?
Any receipt issued by a warehouseman for rice
delivered to him.
What does the business of receiving rice for
storage include?
1) Any contract or transaction wherein the
warehouseman is obligated to return the very
same rice delivered to him or pay its value;
2) Any contract or transaction wherein the rice is
delivered is to be milled for and on account of
the owner thereof;
3) Any contract or transaction wherein the rice
delivered is commingled with the rice delivered
by or belonging to other persons and the
warehouseman is obligated to return the rice of
the same kind or pay its value.
o
SECTION 3
Section 6, 8 & 9
Section 10, 14
What are the roles of the DBCI?
Aside from issuance of license & approval of bond,
DBCI:
o Make such rules & regulations as he may deem
necessary for the efficient execution of the
provisions of this Act. S10
o Hear & metes suspension or revocation of
license for violation or failure to comply with any
provision of this Act or of the rules and
regulations made by virtue thereof. S14
Section 11, 12 & 13
Receiving a quantity of
rice greater than that is
his application and
license
Any person entering into
connivance or
combination with any
warehouseman that is
not licensed with the
purpose of evading S3
guility of misdemeanor
Section 7
Who can sue?
Any person injured by the breach of any obligation
to secure which a bond is given, shall be entitled to
sue on the bond in his own name in any court of
competent jurisdiction to recover damages he may
have sustained by such breach. Nothing contained
herein shall except any property or assets of any
warehouseman from being sued on in case the
bond given is not sufficient to respond for the full
market value of the rice received by such
warehouseman.
Section 15
This Act shall not be applicable to cooperative
marketing associations of rice producers organized
under Act 3425 or the Cooperative Marketing Law,
provided such associations shall not receive, for
storage, rice from non-members which is greater in
quantity than one-half of the total quantity of rice
received from members, at any time.
Section 15
Act effective January First, nineteen hundred and
thirty-two.