Dubai Commodity Receipt /
International Commodity Receipt
The first electronic warehouse receipt in the region
The Dubai Commodity Receipt (DCR) is an electronic warehouse receipt designed to facilitate trade and commodity financing in the UAE by covering goods stored in DMCC approved warehouses within UAE. The DCR allows businesses to access lines of credit against their inventories held in UAE, by pledging them in favour of member Banks to support the rapidly expanding trade in this vibrant part of the globe. It can be also used for transferring title to the goods covered by it to another DCR member through a transfer endorsement. Additionally, it can be used for making physical deliveries under the commodity contracts traded in the Dubai Gold and Commodities Exchange.
The International Commodity Receipt (ICR) is the extension of the DCR to jurisdictions outside the UAE. When goods are stored in DMCC approved warehouses at selected global locations outside the UAE, the electronic warehouse receipt covering these goods is known as the ICR. The ICR is issued under the legal framework adopted for that jurisdiction and is governed by the laws of the country where the goods are stored. It has the functionalities of the DCR in terms of facilitating trade and commodity finance and being used as a vehicle for physical delivery of commodities to the DGCX under the contracts traded.