List of Goods Which Can be Stored in Warehouses and Managed through Warehouse-Receipt Systems Updated

In a bid to extend the scope of goods that can be stored in warehouses and managed through warehouse-receipt systems, the Ministry of Trade (“ Ministry ”) has issued Regulation No. 33 of 2018 (“ Amendment ”), which amends Ministry Regulation No. 37/M-DAG/PER/11/2011 on Goods Which Can be Stored in Warehouses and Managed through Warehouse-Receipt Systems (“ Regulation 37/2011 ”) for the third time.In essence, the Amendment re-updates the list of goods that can be stored in warehouses and managed through warehouse-receipt systems. Prior to the issuance of the Amendment, this list of goods was updated twice previously through the issuance of Ministry Regulation No. 08/M-DAG/PER/2/2013 and Ministry Regulation No. 35/M-DAG/PER/5/2016 (“ Regulation 35/2016 ”).Warehouse-Receipt SystemA warehouse-receipt system is basically an activity which encompasses the issuance, transfer, guarantee and settlement of warehouse-receipt transactions. [1] A warehouse receipt (resi gudang) refers to a document which serves as proof of ownership of goods which are stored in warehouses. Warehouse receipts are issued by warehouse organizers (i.e., parties which organize warehouse businesses, either through the use of their own warehouses or warehouses belonging to other parties). [2] According to Law No. 9 of 2006 on the Warehouse-Receipt System, as amended by Law No. 9 of 2011 (“ Warehouse-Receipt Law ”), a warehouse receipt can be transferred, utilized as collateral or utilized as an underlying document for the handover of goods. Moreover, warehouse receipts can be used as debt collateral without any other collateral being required. [3] Furthermore, in regard to warehouse organizers, the Warehouse Receipt Law sets out several conditions which must be satisfied by warehouse organizers, specifically: [4]