# The Warehousing (Development and Regulation) Act, 2007, Section 12: Negotiability of warehouse receipts

- Act: The Warehousing (Development and Regulation) Act, 2007 (Act 37 of 2007)
- In force from: 2010-10-25
- Ministry: Ministry of Consumer Affairs, Food and Public Distribution
- Source URL: https://indiacode.ecourtsindia.com/warehousing-development-regulation-act-2007/section/12/

## Text

(1) The words in a negotiable warehouse receipt limiting its negotiability shall be void. (2) A warehouseman who issues a non-negotiable warehouse receipt shall cause to be plainly marked upon its face the words "non-negotiable" or "not negotiable" in English or in the language in which it is issued. (3) In case of non-compliance of sub-section (2), a holder of the warehouse receipt who purchases it for valuable consideration believing it to be a negotiable warehouse receipt may, at his option, treat the receipt as vesting in him all rights attaching to a negotiable warehouse receipt and imposing upon the warehouseman the same liabilities which he would have incurred had the receipt been a negotiable warehouse receipt and the warehouseman shall be liable accordingly. (4) A negotiable warehouse receipt shall be valid for delivery till the date of expiry of the declared shelf-life of the goods for which it is issued.

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