[Federal Register Volume 59, Number 151 (Monday, August 8, 1994)] [Unknown Section] [Page 0] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 94-19280] [[Page Unknown]] [Federal Register: August 8, 1994] VOL. 59, NO. 151 Monday, August 8, 1994 DEPARTMENT OF AGRICULTURE Agricultural Stabilization and Conservation Service Using Electronic Cotton Warehouse Receipts-U.S. Warehouse Act AGENCY: Agricultural Stabilization and Conservation Service, USDA. ACTION: Notice of Provider Agreements. ----------------------------------------------------------------------- SUMMARY: The United States Warehouse Act (USWA) and regulations have been amended to allow for the issuance of cotton warehouse receipts in electronic format. The amended USWA and regulations give USWA licensed cotton warehousemen the option of issuing electronic warehouse receipts (EWRs) in lieu of paper warehouse receipts. Other warehouse receipts may be electronically filed in the same system, but such receipts will not be regulated by the terms of the Agreement. Licensed warehousemen opting to issue EWRs will select a provider that has entered into an ASCS Provider Agreement. The Agreement authorizes the provider to electronically file USWA warehouse receipts. Providers may be any qualified individual or entity that meet certain uniform criteria that will be summarized in the Supplementary Information below. FOR FURTHER INFORMATION: Chief, Licensing Authority Division, Kansas City Commodity Office, United States Department of Agriculture (USDA), ASCS, telephone 816-926-6474, FAX 816-926-6767. SUPPLEMENTARY INFORMATION: Authority Section 17 of the USWA (7 U.S.C. 259) has been amended to allow the use of a central filing system for electronic cotton warehouse receipts. Amended USWA Regulations for Cotton Warehouses were published in the Federal Register (59 FR 15033) on March 31, 1994. Background Interested and affected parties include, but are not limited to, cotton growers/owners, ginners, warehousemen, merchandisers, lenders, and millers. All interested parties should be made aware that once a USWA licensed warehouseman has opted to issue warehouse receipts electronically, all warehouse receipts must first be issued electronically. When an individual deposits cotton in a participating USWA warehouse and wants a paper warehouse receipt, the EWR must first be issued and canceled before the paper warehouse receipt can be issued. Interested parties may obtain copies of the Provider Agreement by calling the person listed in the ``For Further Information'' section. Those interested in applying to become a provider, should so state in their request for a copy of the Provider Agreement. They will be sent copies of the Agreement with a cover letter outlining all the necessary details. The Agreement includes, but is not limited to, the following topics and elements: (1) USWA EWRs and other electronic warehouse receipts may be filed in the same central filing system; (2) the USWA cotton regulations are incorporated; (3) the hours and rights of access to the system; (4) the fees to be assessed and collected; (5) the financial and insurance requirements; (6) the provider's liability; (7) the information required for USWA EWRs; (8) the recordkeeping and security requirements; (9) system requirements, including shutdown and backup; (10) transferring EWRs from one provider to another; (11) transmission requirements; and (12) cases of suspensions or terminations. Signed at Washington, DC, on August 1, 1994. Grant Buntrock, Administrator, Agricultural Stabilization and Conservation Service. [FR Doc. 94-19280 Filed 8-5-94; 8:45 am] BILLING CODE 3410-05-P