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Activity:
Digest:
A. Franchising of Warehouses
1.1 Any warehouse owner/entity duly licensed with NFA and/or any licensed
warehouseman who operates a leased storaged facility shall be eligible to apply for a
special franchise from NFA to enable them to issue negotiable quedans for own
deposits and/or third party depposits of grains and grains substitues and to participate
in the Grains Quedan Financing Program.
Applicant must have engaged in the grains business for atleast two (2) years. Farmer-
groups who have been in business for only one (1) year but with a satisfactory loan
record with any lending bank may be allowed to apply for Special Franchise.
x x x x
5. Processing/Evaluation/Approval of application
5.1 A Screening Committee composed of the following Directorates shall evaluate all
applications for Franchised Bonded Warehousing. The Committee shall be the final
body that will evaluate franchising application and recommend its approval to the
Deputy Adminitrator for Industry Affairs;
x x x
5.3 Upon submission to BRD of the evaluation reports by all committee members, the
Screening Committee representatives shall meet en banc to decide if franchise shall
be granted and the quantity to be authorized.
5.4 On the basis of the Committee's decision approving the grant of franchises, BRD shall
prepare the appropriate certification on a per warehouse basis, as follows;
5.4.1 Certificate of Pending Application (CPF) shall be issued if applicant has not yet
submitted the required bond and insurance policies as well as other minor
deficiencies in requirements, if any. This shall be approved by the Director, BRD
and can be presentedcto a participating bank for approval of credit line (Exh.3).
5.4.2 Temporary Franchise (TF) valid for only sixty (60) days shall be issued, if all
requirements are comlete including bond and insurance pending the signatuer
of CSF. This shall be approved by the Diretor, BRD and can be presented to
participating bank for loan availment under the Quedan Financing Program
(Exh.4).
5.4.3 Certificate of Special Franchise (CSF) shall be issued if alll requirements have
been complied with. This shall be approved by the Deputy Administrator or his
duly authorized representative and can be presented to a participating bank for
loan availment under the Quedan Financing Program (Exh.5)
5.5 For disapproved applications, BRD shall prepare and send, on behalf of the
Committee a notice to the aplicant informing him of the disapproval of his franchise
application.
C. Monitoring/Reporting
x x x
The duly designated field and Central Office representative if QGFB are hereby authorized to
inspect franchised bonded warehouse without prior notice, for the purpose of verifying
existance of stocks covered by pledged/assigned quedans to secure outstanding loans under
the Quedan Financing Program.
x x x