State Act

THE KARNATAKA AGRICULTURAL PRODUCE MARKETING (REGULATION AND DEVELOPMENT) ACT, 1966

1[78-B. Responsibility of Warehouse service provider.- (1) A warehouse service provider shall receive his service charge only from the buyer of the notified agricultural produce which shall not exceed five percent of the price for which such notified agricultural produce is sold in respect of fruits, vegetables, flowers and two percent in all other notified produce. (2) A warehouse service provider,- (i) shall arrange for the safe custody of the goods of the seller and storage of notified agricultural produce and adequately insure against fire, theft, flood, rain or any other natural calamities; (ii) shall provide for fire fighting arrangements, electronic weighment and facilities for e-trading, assaying facilities, quality certification, display of prices of commodities in the markets and other facilities to be provided as notified by the Director of Agricultural Marketing; and (iii) A warehouse service provider shall make arrangements for pledge loan facility. (3) In case the payment of price is not made under section 78 of the Act, A warehouse service provider shall be liable to make additional payment at the rate of one percent per day of the total price of the notified agricultural produce payable to the seller within five days, failing which the declaration of the warehouse for the purpose of warehouse based sales shall be cancelled.]1