Record of receipt and disposition question.

[LuckyStreak]

Hello all, I had a quick question regarding logging and couldn't actually find the clarification I was seeking so I figured I'd ask here.

What exactly is a commercial record in regards to "(g) Commercial records of firearms received" under 27 CFR 478.125?

Am I correct in assuming that unlike say, an FFL transfer, where the licensee, who has no real stake in the firearm is logging receipt of the firearm being transferred to the the actual purchaser and all required information, a commercial record is something that shows the licensee is the actual owner (or their buisness is) and obtained the firearm for resale or such and has filled out their own paperwork for it, as in their own purchase for their business (like with a dealer's gun show purchases for resale or used firearms purchased by pawnshops/sporting goods stores that deal in used sales)?

Sorry if this seems like a stupid/obvious question, but I'm genuinely curious as it seems to me like it almost makes the requirement to log an acquisition by the close of the following business day requirement pointless, so I'm sure there are differences, I just am unclear as to what they are.

 

[deadin]

27 CFR 478.125 defines what is normally called a FFL's "Bound Book" and just what information is required to be logged upon acquisition or disposition of a firearm or AP ammo. This applies to all transactions of a commercial nature, even transfers between non-licensees where the FFL is acting as an agent to facilitate the transfer.

 

[LuckyStreak]

I understand that. I'm just curious as to what is different about a "commercial record" that allows a larger logging window.

 

[deadin]

It appears that a "commercial record" would be some form of a sales receipt between licensee's that contains all of the same information as required for the bound book.
I have found that the usual practice when I buy or sell (I'm a FFL03) to another licensee is to give a sales receipt that contains the information pertaining to the gun and we trade copies of our licenses for information on the parties involved.
I don't see any advantage to copying all pertinent information onto a sales receipt and then doing it again in a bound book.

Well, maybe, if you are a very busy shop and only want to update your books once a week.
(I'm not....)