The Warehousing Development and Regulatory Authority (WDRA) on July 27, 2023, issued the procedure for the requirement of security deposit for registration of warehouses storing non-agricultural commodities and combined warehouses storing both non-agricultural and agricultural commodities with the Authority.
The following has been stated namely: -
• The applicant warehouse or Warehouse Service Provider (WSP) shall submit a security deposit to the Authority before the issue of a registration certificate within twenty-one working days after the issue of a communication by the Authority to this effect.
• If the applicant fails to submit the security deposit within the period specified above, the application shall be deemed to have been rejected
• If the applicant submits the security deposit in the form and manner specified, the Authority shall issue a certificate of registration to the applicant in respect of the warehouse within five working days in the form specified in the Fourth Schedule of the Warehousing (Development and Regulation) Registration of Warehouses Rules, 2017.
• Details of the amount and manner of the security deposit to be furnished by the applicant or the warehouseman have been stated in the notification
• The Format for Bank Guarantee for Security Deposit Payment to be submitted by Warehouseman has been attached to the First Schedule
• The Indemnity Bond has been attached to the Second Schedule
[Notification No. WDRA-Tech0Ops(WH)/2/2021-Technical]
