Customs Warehouses

Posted On 26 November 2023
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Customs bonded warehouses serve as pivotal components in global trade, offering specialized storage facilities for imported goods awaiting clearance of customs duties and taxes. Positioned strategically at critical entry points like ports and airports, these warehouses expedite the seamless flow of goods across international borders.

This article aims to delve into the various types and benefits associated with customs bonded warehouses, highlighting their indispensable role in contemporary trade practices. Additionally, we will discuss the significance of custom warehouses in facilitating efficient trade operations.

 

What is a Customs Warehouses?

A Customs Warehouses also known as a customs bonded area, is a facility where imported dutiable goods can be stored, manipulated, or undergo manufacturing operations without payment of duties for up to 5 years from the date of importation. These warehouses can be government or privately owned and offer advantages for organizations looking to store inventory overseas.

 

Customs warehouse types

You can store your goods in one of two types of warehouse in customs bonded.

Public warehouse

The company that owns this warehouse aims to store other people's goods. There are 3 types of public customs bonded warehouse:

  • Warehouse type I: The owner of the authorization and the owner of the customs procedure share the procedure; the warehouse needs permission from the customs authorities.

  • Warehouse type II: The warehouse process is completely the responsibility of the holder, and customs approval is required.

  • Warehouse type III: is run by the customs authorities

Private warehouse

The authorization holder is also the procedure holder and is in charge of the warehouse procedure in the case of private custom warehouse.

Customs storage in a customs warehouse

In a customs bonded area, You will be responsible for:

  • Declaring your goods correctly If you hire an agent, you must provide them with specific written instructions on how to declare your goods.

  • ensuring that your goods are delivered directly to the warehouse listed on your declaration within 5 days of customs clearance

  • providing the warehousekeeper with all import declaration details

  • Making sure the warehouse is approved for the type of goods you want to deposit includes making sure the warehouse can accept chilled, frozen, or special storage needs such as chemicals.

  • When your goods are removed from the warehouse, they are correctly declared.

What is custom bonded area?

A custom bonded area, also known as a bonded warehouse, stands as a pivotal component in international trade, providing a secure space for storing imported goods prior to customs clearance. Within these designated custom bonded areas, businesses benefit from the ability to defer customs duties and taxes until the goods are prepared for distribution, thereby effectively managing cash flow and optimizing supply chain efficiency. Moreover, the strategic utilization of custom bonded areas facilitates streamlined logistics operations, enabling the consolidation and processing of shipments to ensure timely delivery to customers while adhering to regulatory mandates. By leveraging the capabilities of custom bonded areas, businesses can navigate the intricacies of global trade with enhanced proficiency, bolstering their competitiveness in the marketplace.

Advantages of the customs bonded warehouse

There are various benefits to the custom bonded warehouse process:

  • The customs storage is free from import taxes as well as other trade policy measures.

  • The importing company maintains a stock of duty-free imported goods for an indefinite period of time.

  • During customs storage, it is possible to carry out maintenance actions (for conservation of goods, upgrading to standards, packaging, and verification)

  • It is possible to temporarily remove the customs storage, primarily in order to carry out routine interventions.

 

Contact TEDA Royal Bonded Warehouse for all your warehousing and logistics needs. Our commitment to quality, security, and professionalism ensures that your goods are in the best hands. Let us be your trusted partner in the world of logistics.

Read More:

warehousing and logistics companies
dry port
bonded warehouse charges
The importance of bonded warehouse in trade

 

FAQS

Which type of warehouse is under customs control?

A bonded warehouse is a type of warehouse that is under customs control. These warehouses are used to store imported goods on which the required customs duties and taxes have not yet been paid.

Which type of warehouse is under customs control?

A bonded warehouse is a type of warehouse that is under customs control.

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