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What are the functions of bonded warehouse?

What are the functions of Bonded warehouse? Bonded warehouse is useful in case of import. Here, you do not have customs duties till you resell or export the imported goods. As a importer you have to file a bill of entry when the imported products arrives. In simple words, a bonded warehouse is a custom controlled warehouse wherein goods are ...

What are the requirements for a bonded warehouse?

§ 19.13 Requirements for establishment of warehouse. (a) Buildings or parts of buildings and other enclosures may be designated as bonded manufacturing warehouses if the port director is satisfied that their location, construction, and arrangement afford adequate protection to the revenue.

What are the features of a bonded warehouse?

Features of a bonded warehouse. -Goods are bonded until customs duty is paid. -Goods can be re-exported while in the warehouse. -Storage charges are made on all goods stored in the warehouse. -Goods can be sold while still under bond. -Goods can be inspected and prepared for sale i.e. they can be repacked, branded and blended while in the ...

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