As a freight forwarder, you may be heard about bonded warehouse. The textbook definition is ” a building or a custom-
controlled warehouse where goods are kept for processing before delivery “. It is in other words a government or private
facility previously authorized and certified well prepared to handle and keep import goods until duty taxes are paid in full.
In this opportunity, we want to talk about what is a bonded warehouse and benefits to storing your goods on them.
What is a bonded warehouse?
A bonded warehouse, also known as custom warehouses, is a highly secure facility that allows mostly importers, to store and keep their merchandise without paying customs until the goods are ready to be deliver.
So a bonded warehouse is a duty-free zone where your goods are store and stock in the country without formally enter to the market, so you do not have to pay import taxes or value-add taxes (VAT) until the goods are sold or markets demand it.
Benefits of the bonded warehouses
If you are not sure that a bonded warehouse is a good option for your business, we want to share some of the major benefits to store your merchandise in one of them.
Save money on taxes
As we mentioned before, the main benefit of the bonded warehouse is its duty-free zone that provides to your goods, they will be cover for any risk and you only need to worry about the taxes when they are sold.
The majority of bonded warehouses are near to ports, meaning a reduction of cost of transportation, lower the chances of damaging your goods while in transportation, and save time that can be invested in other activities.
Equipped to handle any merchandise
One of the reasons to store your merchandise in a bonded warehouse is because they are designed to handle and protect any kind of product. They have different spaces with different security features, so you can store huge products, delicate product, and even the most expensive products.
As you see, a contract with a bonded warehouse is a safe move to store your merchandise, it provides you with the necessary space and security features to protect.
But the most important thing is that it allows you to control your financial assets to the duty-free zone that they offer, you only need to pay the taxes of your product when they are sold.
In Cargo Care Service we have warehouses in most major US cities and near main ports/airports to offer a time-effective alternative in case of emergency and excellent service.
We know the logistics industry and we understand your issues, so we can assure you the safety of your cargo! Contact us here if you are interested in having a quote for a bonded warehouse.