What is the difference between a bonded warehouse and an ordinary warehouse?

Answer 1

ordinary warehouse no need to get license.but in bonded warehouse need to get license.

Answer 2

There are several significant differences between bonded warehouse and an ordinary one:

1. Storage

A bonded warehouse is good for long term storage. In the US, the customer can go as long as five years without having to pay the duties. Many countries keep the storage periods set to infinity. When the customer stores for a long time, he avoids unnecessary travel, and this also allows them to develop good professional relationships with the most reliable vendors. In the case of the non-bonded warehouses, long term storage means additional cost, which is not a very convenient setup for businesses looking for long term storage plans.

Deffered duties

Custom bonded warehouses save money. When the goods are stored in a bonded warehouse, the duties are deferred until the goods leave for the final destination. The importer can save a lot of money regardless of what he intends to do with the cargo. This also buys time to complete the legal framework, essential to export goods in a country. As compared to the non-bonded warehouses, importers can save up to 30% in terms of the deferred taxes.

Storing restricted goods

When it comes to non-bonded warehouses, the importers have a strict time limit, during which any restricted goods are held, and the paperwork has to be approved. Customs bonded warehouse, on the other hand, are exempted from this probationary period. This means that just like the duty deferment, it is more convenient to store the restricted goods for as long as 5 years, while the importer files all the required paperwork. Just to remind you again, it takes a lot of time to process the paperwork for restricted goods, and non-bonded warehouses do not allow that much time.

International Shipping

When you talk about the ease of shipping internationally, a custom bonded warehouse takes the lead. Any importer can import the goods across the globe and store them without having to pay an advance duty fee. This condition is suitable for two business scenarios. First, the goods can be stored in a bonded warehouse until there is a significant increase in the demand for the same. This is when the importer can pay the duties and get these demanded goods delivered to the destination within the country of holding. You do not have to import it all together. It can be done easily and at your convenience.

Secondly, the importer can keep on storing the goods at the custom bonded warehouse to process the consolidation of the assets. You can do all of this before going for the export again. Whenever the consolidated goods are moved from the country of the holding, the importer does not have to pay the duty fees because the goods have been staying under the supervision of the customs. This helps the importer avoid double taxes.