Previous - Next
NOTA BENE: This is an example of a document in use in Ghana, and is not meant for universal application.
COLLATERAL MANAGEMENT AGREEMENT
THIS AGREEMENT is made the______ day of _______1994
Among:_________________________ _______________
(hereinafter called the "Depositor")
OF THE FIRST PART
and: __ a company/partnership existing under the laws of Ghana and having its principal place of business situate at __ , Accra in the Greater-Accra Region of the Republic of Ghana (hereinafter called "the Collateral Manager")
OF THE SECOND PART
and: __ XYZ BANK LIMITED, a bank formed under the laws of Ghana having its Registered Office situate at Accra aforesaid (hereinafter called the "Bank")
OF THE THIRD PART
Whereas:
NOW THIS AGREEMENT WITNESSES that in pursuance of the premises and in consideration of the mutual understandings and agreements herein contained the parties hereto HAVE AGREED as follows:
(a) The Collateral Manager shall receive the Commodities at the door of the warehouse and unload them using casual labourers specially hired for this purpose.
(b) Once discharged from the trucks, the Collaleral Manager will stack the Commodities in the warehouse in an appropriate manner and in accordance with the local regulations for maize. At that stage, the Collateral Manager will prepare a report for each truck and will fill stack cards for each lot.
(c) If requested, the Collateral Manager will perform a 100 percent weighing control and a quality classification of the Commodities, by analysing a representative sample of each lot, according to the specifications which will be agreed upon by the parties.
(d) Within 48 hours of receipt of the Commodities into store (excluding Sundays and public holidays) the Collateral Manager will notify the parties by fax of the details of the consignment received.
(e) After confirmation received from the Bank the Collateral Manager will issue a Warehouse Receipt to the Bank in the form attached hereto as Annex II which forms a part hereof.
(f) The Collateral Manager will store the goods in the warehouse until delivery as provided hereunder.
(g) Upon advice from the Bank of an expected date of delivery of the Commodities from the Warehouse with all the necessary information the Collateral Manager will prepare the lot to be delivered.
(h) If requested the Collateral Manager will fumigate the Commodities before delivery.
(i) When a delivery is programmed the Collateral Manager will arrange the delivery of the Commodities ex warehouse and ensure that all the bags which have been prepared are taken for loading into the respective wagons. These manoeuvres will also be done by casual labourers hired for this purpose by the Collateral Manager and, if requested, the Collateral Manager will also perform a spot weight checking at this stage.
(j) The Collateral Manager will arrange loading and proper storage of the Commodities on the wagons and, if requested, will also seal these wagons.
(k) The Collateral Manager shall ensure that the Commodities to be delivered correspond with the specifications stated on the Warehouse Receipt(s) handed over by the Bank.
(l) Upon completion of delivery, the Collateral Manager will issue a report of delivery and/or certificate of delivery per lot delivered, in accordance with the instructions of the Bank, specifying the quantity of bags and other relevant details of the lot. The Collateral Manager will also take possession of the original document issued by the Railways or other transporter once the Bank has given to the Railways or other Transporter the necessary delivery instructions confirming delivery and will immediately courier these documents to the Bank.
(a) receipt and delivery of Commodities as per Section 3(a), (b), (d), (g), (i) to (1): Cedi __ per tonne;
(b) storage of Commodities as per Section 3(f): Cedi _ per tonne per fortnight or part thereof;
(c) insurance, if any, as per Section 5: 0, _% per month based on the value of the Commodities stored in the warehouse on the first day of each month;
(d) issue of warehouse receipt as per Section 3(e) and other sundry costs: Cedi _ per tonne.
Notwithstanding the above the Bank agrees to pay the Collateral Manager a minimum monthly fee of Cedi _ .
SIGNED SEALED AND DELIVERED
by: _____
on behalf of the: _____
(the Depositor)
herein the presence of: ______
SIGNED SEALED AND DELIVERED
by: _____
on behalf of the: ______
(the Collateral Manager)
herein the presence of: ______
SIGNED SEALED AND DELIVERED
by: _____
on behalf of the: ______
(the Bank)
herein the presence of: _____
NOTA BENE: This is an example of a document proposed for use in Ghana, and is not meant for universal application.
WAREHOUSE RECEIPT NO. __
ISSUED TO: __ XYZ BANK REF. OF COLLATERAL MANAGER This is to certify that the undersigned has received the following goods for storage in apparent good order and condition (except as noted) subject to the Collateral Manager Warehousing General Terms and Conditions and the Collateral Management Agreement between the Collateral Managers, XYZ
Bank and ___ dated ___ 1994
MARKS & NUMBERS DESCRIPTION OF GOODS REMARKS/NOTES
GROSS WEIGHT: kg
NET WEIGHT: kg
NO. OF PACKAGES:
DATE RECEIVED:
LOCATION OF STORAGE :
WAREHOUSE RENT:
INSURANCE
This Warehouse Receipt is not a negotiable document of title and therefore does not evidence title to the goods mentioned herein. it cannot be negotiated nor used as collateral security.
Delivery or partial delivery of the goods will only be made upon written instructions from XYZ Bank in accordance with the Collateral Management Agreement above-stated.
The undersigned is not responsible for the contents or description of the goods.
THE COLLATERAL MANAGER
DATE:_______ ________________________