Private Bonded Warehouses
A Bonded warehouse is a building, installation or area approved by and under the supervision of customs where goods may be stored under the conditions laid down by the provisions in force.
Private operators are allowed to operate bonded warehouse. Are you interested in operating one? All you need to do is apply to the Commisioner of Customs clearly indicating the nature of the warehouse you want to operate.
Here are a few things you need to know
- The Customs need to approve all goods that are to be warehoused
- The license to operate a bonded warehouse is valid for one year renewable.
- Companies or individuals applying for the first time to operate a bonded warehouse are not limited to a certain period of time to accomplish all the formalities but those requesting for the contract renewal are allowed only one month period.