Custom Bonded Warehousing
Imported goods on which duties, taxes, and other custom related charges still need to be paid are labelled “bonded goods”. For storage purposes, the specific storage areas in warehouses where these goods are stored are bonded warehouses. These are typically warehouses owned by a business or a third-party logistics (3PL) provider like Emiza but are under the control of the custom authorities of that country and so are called Custom Bonded Warehouses.
In a regular storage warehouse, storage of goods happens, irrespective of any pending formalities. custom bonded warehouses are ideal for storing goods until all import and excise duties and custom formalities are closed. Post the green light from the custom Authorities, 3PL partners or owners accept goods for further shipping and distribution. Custom Bonded Warehouses owned by Emiza not only provide for safer and more cost-effective storage than if businesses would need to rent or lease an ISO container.
While imported goods are stored securely in Custom Bonded Warehouses, simultaneously other processes like manufacturing or preparing the goods for distribution continue uninterrupted. Preparing goods and keeping them in a ready-to-be-shipped state will help ensure a quick release as soon as the formalities have been closed. It is important to note that all custom duties and taxes due on the stored goods only need to be paid or cleared when the goods are ready to be shipped out from the custom bonded warehouse. If goods are exported directly from the warehouse, no custom duty is payable. Custom Bonded Warehouses double up as regular storage for locally procured domestic goods for further processing.