Custom bonded warehouses are storage solutions, enabling international companies to store goods before their paperwork is done and legal formalities are met.
A warehouse providing warehouse storage and shipping services can be a private or a government-owned facility.
It is usually a duty-free zone located in a foreign country, where companies can keep their supplies before their payment duty is paid.
A custom bonded warehouse helps store restricted goods, such as:
- Alcohol
- Tobacco
- Antiques
- Artwork
Apart from these, bonded warehouse services can be hired by companies whose products need to be deep frozen or are in bulk.
A company can manipulate and change its goods in the warehouse before their custom duty is paid or they are introduced into the market.
Apart from that, it can withdraw the supplies after paying duty to the warehouse or the government.
Types Of Customs Bonded Warehouses
There are two types of custom bonded warehouses – Government-owned warehouses and privately owned warehouses.
- Government Owned Warehouses
A government-owned warehouse is a place where companies pay customs duties for their shipped goods to the government.
- Privately Owned Warehouses
As the name suggests, privately owned warehouses are storage solutions where companies keeping their goods pay an amount to the warehouse’s owner.
In this case, a company connects with the warehouse owner for logistics, paperwork, and payment of duty to store goods.
What Is Bonded Warehouse Inventory
Bonded goods that you can usually find in these warehouses are:
- Alcohol
- Tobacco
- Antiques
- Paintings and artwork
- Coffee
- Watches
- Handbags
- Electronics
- Chocolates
- Perfumes and skincare products
How is a Custom Bonded Warehouse Different from a Non-Bonded Warehouse
When you are using custom bonded warehouses, goods can be stored until their custom duties are paid.
Many times, exporters get these services to delay taxes and payment of duty until the goods are purchased. In this way, they can save money.
On the other hand, in non-bonded facilities, customer duties on stored goods are already paid for.
Benefits Of Custom Bonded Warehouses
- Effortless International Shipping
Whether you use warehouses for storing restricted goods or to store inventory across the seas in different countries, shipping bonded goods from a warehouse is way simpler.
You can easily import and export items from these warehouses. However, you pay customs duties only on imported goods.
- Storage Options For Long Term
Custom bonded warehouses are safe places to store your items until they are ready to be exported.
It enables you to store items in a warehouse for a longer amount of time, allowing you to defer payment of any duty taxes till you are sure that goods are paid and prepared for shipment.
- 24X7 Access To Stored Goods
You can access your stored goods at any time in a warehouse.
This improves overall warehouse logistics services operations, as this enables importers and exporters to organize and prepare goods before shipment.
Why To Hire Custom Bonded Warehouses
Are you considering improving the efficiency of your logistics operations?
If yes, you need bonded warehouse storage and shipping services.
In today’s world, these warehouses are an important part of international trade.
They offer a wide range of benefits -including providing companies and international brands with a safe and secure location to store goods.