Public Warehousing

Public warehousing contributes the development of trade and money circulation, the better satisfaction of the credit requirements of production and trade.

Public Warehousing is

-          adequate to producers and traders short-term working capital needs.

-          a solution to bridge the time interval between production and consumption or sale

-          available for a favorable foreign exchange rates or price sale

-          an instrument of state intervention activities

-           fits the stock exchanges.

It plays an important role in making the lock-up of capital of the stockpiling caused by seasonality.

The main point of the operation of the public warehousing is storing and safe-keeping the goods according to law, issuing warehouse warrants, granting credit and finally delivering the product. The guarantee of paying back the loan is the goods itself.

The warehouse warrant is a security made out to order, issued in respect of the goods taken into deposit on the basis of a warehousing contract, which represents the acknowledgement of the receipt of the goods by the public warehouse and proves its obligation of releasing them. The warehouse warrant is not subject to the law on securities and provision of warehouse loan is not banking activity.

The activity of public warehousing can be exercised in Hungary by the following warehouses

Information regarding the suspension and revoking of authorization

Information regarding the appointment and recall of supervison commissioner

The regulation is included in Act XLVIII of 1996 on public warehousing, amended by Act XVIII of 1998, public warehouses are controlled by the Public Warehouse Supervision of the Hungarian Trade Licensing Office.

The Public Warehouse Supervision has not cooperation agreement with foreign supervisory authorities.

Process beginning on request

Register of Public Warehouse Supervison Commissioners

Editor:

Mr. Tamás Békési  (Phone: +36-1-4585-538 Email: kozraktari.felugyelet--.at.--bfkh.gov.hu)