SRA CIRCULAR LETTER NO. 20

: The purpose of the Quedan Swapping Ledger (QSL) is to have a reliable source of ready information regarding the history of quedan issuances in connection with the audit of "D" World Market sugar that has been swapped to other classes of sugar and vice-versa.
: The Quedan Swapping Ledger should be accomplished beginning Crop-Year 1993-1994.
: The QSL for Crop-Year 1993-94 shall be submitted to the Office of the Assistant Administrator not later than fifteen (15) days from the date of the circular, February 28, 1995.
: For Crop-Year 1994-1995 and subsequent crop-years, the QSL shall be submitted to the Office not later than thirty (30) days after the end of the crop-year.
: The accomplished ledger must be certified by the duly authorized mill representative.
: The circular relates to the regulatory framework governing sugar production and trade, involving audits of sugar quedans as per SRA Circular Letter No. 18 dated January 25, 1995.
: In this context, a 'quedan' is a document evidencing the delivery or deposit of sugar in the warehouse, used in trading and regulatory processes for sugar classes.
: Quedan swapping refers to the process of exchanging one class of sugar quedans for another, such as swapping 'D' World Market sugar quedans with other classes.
: The ledger is needed to provide a reliable, detailed history of the issuance and swapping of sugar quedans to facilitate accurate and transparent audits of sugar stocks and classes.