Overview

Application In Prescribed Format

The applicant will have to apply for WSP empanelment in the prescribed application form annexed herewith along with the application fee.

Application Submission

Wherever required, the applicant will be required to “self-certify” the submitted documents along with an undertaking indicating compliance/ non-compliance of the norms outlined vide Exchange circular no MCX/WHL/320/2016 dated 29th September 2016.

The self-certified copies of the documents along with application form shall be delivered to Exchange on following address:

Vice President – Warehousing Operations
Multi Commodity Exchange of India Ltd
“Exchange Square”, Suren Road,
Chakala, Andheri (E), Mumbai – 400093
E-Mail: [email protected]
Board Line: 022-66494000

Application Approval

Approval to act as WSP shall be granted to entities with credible track record and who undertake to comply with the best warehousing standards and practices. Submission of application and compliance to the applicable norms and eligibility criteria shall not be deemed as approval to the WSP unless explicitly conveyed by the Exchange. Additionally, Exchange also reserves the right to modify/ amend/ upgrade some of the requirements from time to time.

Application Review By Exchange

On receipt of the documents, Exchange shall review such submission and wherever deviations/ shortfalls are observed, shall call upon the WSP for submission of additional information/ declaration until compliance to the empanelment norms.

Recommendation By Internal Committee

Thereafter, the same shall be referred to internal committee who shall make further recommendations to the Membership Selection Committee of the Board of Directors of the MCXCCL. The Committee reserves the right to call for more information as well as have discussions with any applicant/s and seek clarification on any issue as may be required by it. The Committee may also seek additional undertaking from the WSP. The MCXCCL’s decision in this regard will be final.

Applicant Selection

Selected applicant will be issued in-principle approval subject to conditions specified therein and shall be advised to proceed with the signing of Master Service Agreement as prescribed by the Exchange. Along with the signing of the agreement, WSP shall be required to submit the minimum security deposit of Rs. 50 lakh which shall be considered for compliance to the financial norms as outlined by the Exchange.

Compliance

The compliance of terms and conditions laid down by Exchange is an essential condition of grant of approval.

Master Service Agreement

Approval of warehouse for accepting deposit will commence only after the signing of Master Service Agreement. The Exchange reserves the right to inspect and approve / disapprove the warehouse applied for accreditation.