A warehouse receipt is a document that provides proof of ownership of commodities (e.g., bars of copper) that are stored in a warehouse, vault, or depository for safekeeping.
Most warehouse receipts are issued in negotiable form, making them eligible as collateral for loans.
In the United States, warehouse receipts are generally regulated by Article 7 of the Uniform Commercial Code as adopted by the various jurisdictions.
Warehouse receipts also guarantee existence and availability of a commodity of a particular quantity, type, and quality in a named storage facility.
Rather than delivering the actual commodity, negotiable warehouse receipts are used to settle expiring futures contracts.