Warehouse Receipt System
PT Food Station Tjipinang Jaya is the owner and manager of a Warehouse with a Warehouse Receipting System that has been certified by the Commodities Futures Trading Supervisory Agency (Bappebti). As such we are:
- A party that conducts warehousing services, both our own facilities and on behalf of other entities; or
- A party that conducts warehousing, maintenance and security services for goods that are stored by their owners and who are entitled to isse Warehouse Recepts.
The legal basis for PT Food Station Tjipinang Jaya as a Warehouse Owner/Manager is the Agreement issued by the Commodities Futures Trading Supervisory Agency (Bappebti) No 12./BAPPEBTI/Kep-SRG/SP/PG/6/2014, dated June 16, 2014. It states that we own and can offer the following:
- Warehouses that are certified for use in Warehouse Receipting
- Rice Delivery Services
- High Quality Rice from Selected Rice-Growing Areas
- 16 hectares of Retail and Warehouse facilities
Warehouse Management Tasks
- Receive and store goods
- Issue warehouse receipts
- Maintaining goods
- Deliver goods to the owner
- Maintaining report associated with SRG documents
- Supervise and help the process of Badan Pengawas during audit
Warehouse Management Roles
- As a supplier and certified warehouse management under SNI standard (farmers’ warehouse commodity)
- Maintaining storage goods in good conditions
- Supplying and implementing warehouse receipt’s issue process
- Issue and handover warehouse receipt to the rightful owner of the goods
- Supporting government’s programs in the following fields:
– Quality and quantity maintenance of staple foods
– Ensure food commodities’ trading and distribution
Responsibilities of Warehouse Management
- Ensure the process of incoming goods, storing and also delivering products
- Checking warehouse receipt during publishing (type, quantity, quality, and value of the goods)
- Ensuring the accuracy of the reports based on the regulations of Bappebti
- Paying compensation claims to the rightful owners of the goods due to the following reasons:
– Writing error in warehouse receipt
– Negligance or error in storing/delivering goods
All documents stored in the warehouse published by the select Warehouse Management are required to have certification from Bappebti.
Warehouse Receipt System
Any publishing, diversion, guarantee, or transaction completion of warehouse receipt
Legal Basis for Warehouse Receipt System
1. UU No. 9 year 2006 regarding Warehouse Receipt System
2. PP No. 36 year 2007 regarding the enactment of UU No. 9 year 2006 in regards to SRG
3. Permendag No. 26/M-DAG/PER/6/2007 regarding goods products that could be stored in the warehouse in the management of SRG
4. Regulatios of the head of Bappebti (13 items) which controls technical issues regarding the management of SRG
5. Regulations of Bank of Indonesia No. 9/6/PBI/2007 regarding the second changes of rules and legislations
6. Bank of Indonesia No. 7/2/PBI/2005 regarding the Asset Quality Rating of Commercial Bank Benefits
Benefits of Warehouse Receipt System
1. Farmers as the producers
- Getting a better price (looking for a better selling time), Quality and quantity.
- Certainty of stored goods, Hassle-free payment and encourage bargaining position of the farmer’s groups.
- Encourage the growth of warehouse industry and other related businesses
- Obtaining income from warehouse services
3. Processor/Commodity User Company
- Increasing access for quality staple sources, Reducing storage fee and a better planning supply
- Volume and quality availability
- All seasons supply availability
- Financing the export warehouse receipt as Letter of Credit transaction document to increase its credibility (especially for banks – issuing bank and nomonated bank)
- Preventing/reducing fraud in export transaction
5. National Economy
- Encourage the growth of enterpreneurs (farmers as producers/exporters), warehouse industry, banking services, insurance services, quality examination, etc. in rural areas.
- A more efficient means for national stock control.
6. Banking (LKNB – Lembaga Keuangan Non-Bank)
- A chance for new opportunities: banking services in rural areas (provinces and regencies).
- Top security for assurance.
- Assurance in liquid form.
- Secure and beneficial credit distributions.
- Introduction and utilization of banking service products for farmers/SME in warehouse receipt credits and other types of banking services (savings or deposit accounts, etc).
- Transaction financing for national and export purposes (SKBDN and L/C)
Related Agencies/Institutions in SRG
- Minister of Trading
- Badan Pengawas (Bappebti)
- Warehouse Management
- Value suitability institutions
- Registration Centre
- Bank/LKNB (Non-banking financial institution)
- Central/Local Government
Warehouse Receipt System Institutionals
1. Supervisory board commodity futures trading - Badan Pengawas SRG (BAPPEBTI)
Roles: control development, arrangement, and supervision for any activities related to SRG. In charge of approval of warehouse management, value suitability institutions, and registration centre.
2. Warehouse Management
In charge of storing goods and to issue warehouse receipt in form of legal enterprises specialized in warehouse service management and has been certified by Badan Pengawas.
3. Value Suitability Institutions
Warehouse receipt administrations: recording, restoring, relocating, imposing security interest, reporting, as well as system provision and information network as registration centre that could only be accessed by certified legal enterprises.
4. Registration Centre
Warehouse receipt administrations: recording, restoring, relocating, imposing security interest, reporting, as well as system provision and information network as registration centre that could only be accessed by certified legal enterprises
Written warning, administrative fines, business limitations, freezing business account and/or cancelation of approval due to violation of reporting administration and administrative and reporting fraud.
- Manipulating admnistrative report or legal documents regarding warehouse receipts and its derivatives are sanctioned to be imprisoned for maximum of 8 (eight) years and criminal penalties maximum of 10.000.000.00 IDR (ten billion IDR).
- Illegal or uncertified warehouse receipt system are sanctioned to be imprisoned maximum of five (5) years and criminal penalties maximum of 6.500.000.000 IDR (six billion and five hundred million IDR).
Goods in Warehouse Receipt System
(Permendag No. 26/M-DAG/PER/6/2007) PERATURAN MENDAG No. 26/M-DAG/PER/6/2007 in 2007 pertient to any good that can be stored in the warehouse in the event of obtaining the first warehouse system receipt are: unhulled rice, rice, corns, coffee, cacao beans, ground peppers, rubbers, and sea weeds.
Further regulations about any goods in SRG are considered based on the recommendations from PEMDA, related agency or associated commodities (still under the conditions based on Pasal 3 SK Mendag No. 26 year 2007: storability, quality standard, and minimum total storage goods).
Quality Assurance System
Commodities’ quality examinations are done based on national standard for each commodity
1. Unhulled rice commodity : SNI 01-0224-1987
2. Corn commodity : SNI 01-3920-1985
3. Milled rice commodity : SNI 01-6128-1999
4. Coffee commodity : SNI 01-2907-2008
5. Cocoa beans commodity : SNI 01-2323-2008
6. Ground pepper commodity : SNI 01-0004-1995
7. Rubbers commodity : SNI 06-0001-1987
8. Sea weeds commodity : SNI 01-4441-1998
1. Commodity’s proprietor store commodities in the warehouse will receive receipt from warehouse management
(a) Warehouse management will contact LPK to identify the quality of the commodity according to the SNI’s standard
(b) The commodity is insured by the warehouse management and will be stored in the warehouse
2. Warehouse management will ask the Registration Centre for a registration code for verification, then the warehouse management will issue warehouse receipt. Original warehouse receipt will be given to the commodity’s proprietor and the copy of the receipt will be stored by the warehouse management.
3. Every warehouse receipt transactions (issuance, transfer, imposition of rights guarantees, completion of transaction) are recorded/registered and stored in the Warehouse Receipt Information System registration centre (IS-WARE).
4. Warehouse receipt could be accessed in the bank to obtain financing or be sold straight to a manufacturer or an exporter company or to any auction houses.