Definitions

Safekeeping Receipt (SKR)

A Safekeeping Receipt is issued when an asset owner elects to place that asset in the care of an Agent (in custody with a fiduciary role), usually a bank or financial institution, and receives an acknowledgement from the caretaker/fiduciary as to their “Safekeeping” of that asset. The asset owner may elect to have such an acknowledgement sent to a third party. A fee may be required for these services. The various assets that can be held in such arrangements include shares, bonds, real estate, property titles, precious metals, and oil and other natural resource reserves, among others. The owner of an SKR may monetise this instrument much like an SBLC, Bond or BG and use the funds as an alternative funding source for projects.