What is a warehouse
Those who manufacture any products, who export or those who import in large quantity should have a warehouse. Storage of goods and re-export to other countries can be possible only through storing goods in warehouse. Most of the manufacturers, warehouse is a place where to store goods , there are many types of warehouse, for a starting business it’s always better to have a lease warehouse. Let us discuss now about Bonded Warehouse.
What is Bonded Warehouse?
This type of warehouse is a safe option for starters of the business, this is a bonded warehouse that means the contract of this warehouse controlled by a bond for a time period between the importer, manufacturer or exporter with the owner of warehouse. This type of warehouse will be very clean, maintained and very professional.
Advantages of Bonded Warehouse
- Basic advantage of a Bonded warehouse is properly licensed to keep all types of imported goods under the government regulation.
- There is no need for Manufacturer, exporter or Importer to invest a big capital on stock, because the stocks will be safe because it has been maintained by contract for a period of time, it’s the duty of authorities to take full responsibility of the goods stored in the warehouse.
- State in art infrastructure facilities in warehouse, for example if you have agro based food product, you need to maintain certain amount of temperature to keep those food products fresh. You need to have certain standards of cooling and heating facility in the warehouse, these kind of bonded warehouse has those features.
- You can keep duty paid goods in warehouse without no hassles.
- You can apply for a loan and you can pledge even the goods you kept in warehouse.
- Owner of the warehouse takes full responsibility of the goods , no need to worry about whether things might get lost.
- Reduce in capital and also save money in expenses, if manufacturer want to re-export it to another country.