LAW OF UKRAINE

of December 23, 2004 No. 2286-IV

About the certified warehouses and simple and double warehouse certificates

This Law regulates the legal relationship connected with registration, issue, repayment of simple and double warehouse certificates, determines procedure for their registration and is directed to creation of legal, economic, organizational operating conditions of these documents in case of storage of goods in warehouses.

Operation of this Law does not extend to the legal relationship arising concerning real estate objects, power industry and also the legal relationship connected with storage of securities, their certificates, bank notes (banknotes) and coins which are legal means of payment; animals; the goods burdened by the pledge rights; goods which expiration date from the date of acceptance on storage does not exceed 90 days, and also goods on which production about reclamation from others adverse possession is initiated by court; the goods transferred to use under lease, leasing or hire.

Article 1. Determination of terms

In this Law the stated below terms are used in the following value:

the register of simple and double warehouse certificates (further - the register of warehouse certificates) - the document containing system of accounting of information about the simple and double warehouse certificates and owners of such certificates issued and extinguished by the certified warehouses;

warehouse - the organization which stores goods and renders the services connected with storage on bases of business activity;

the certified warehouse (further - the certified warehouse) - the warehouse which received the certificate on compliance of rendering services in storage granting the right to grant simple and double warehouse certificates on the separate groups of goods specified in the certificate on compliance of rendering services in storage;

warehouse certificates - tovarorasporyaditelny warehouse documents to bearer or nominal, certifying the property right to goods which are stored in the certified warehouse;

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