field warehousing

field warehousing
Arrangement whereby wholesaler, manufacturer, or merchant finances his business through pledge of goods remaining on his premises and it is limited type of warehousing as distinguished from public warehouse. Lawrence Warehouse Co. v. McKee, C.A.Fla., 301 F.2d 4, 6. An arrangement whereby a pledger may have necessary access to the pledged goods, while the goods are actually in the custody and control of a third person, acting as a warehouseman on the pledger's premises. Field warehousing is often employed as a security device in inventory financing where the financer or secured party desires to maintain close control over the borrower's inventory and have the advantages of being a pledgee of the property. The device is employed in financing manufacturers or wholesalers in seasonal industries and is also useful where the manufactured products must be aged or cured or where they are accumulated over a period of time and then disposed of all at once

Black's law dictionary. . 1990.

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  • field warehousing — A method of financing inventories in which the inventory is held in custody for the lender by an agent of the lender at the borrower s place of business. American Banker Glossary …   Financial and business terms

  • field warehousing — A device whereby manufacturers, jobbers, wholesalers, and others borrow money on the security of goods remaining stored in warehouses, or on storage ground, on their own premises, the procedure being to give as security warehouse receipts issued… …   Ballentine's law dictionary

  • field warehouse financing agreement — A loan agreement in which the inventory that is being pledged as collateral is segregated from the company s other inventories and stored on its premises under the control of a field warehouse company. See also field warehousing …   Black's law dictionary

  • field warehouse financing agreement — A loan agreement in which the inventory that is being pledged as collateral is segregated from the company s other inventories and stored on its premises under the control of a field warehouse company. See also field warehousing …   Black's law dictionary

  • field warehouse receipt — Document issued by warehouseman evidencing receipt of goods which have been stored. Such may be used as collateral for loans. See also field warehousing warehouse receipt …   Black's law dictionary

  • field warehouse receipt — Document issued by warehouseman evidencing receipt of goods which have been stored. Such may be used as collateral for loans. See also field warehousing warehouse receipt …   Black's law dictionary

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