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BOND STORE

We provide you with a valuable solution to optimise your import and export operations. A bond store, also known as a bonded warehouse, is a facility authorized by customs where imported goods can be stored without paying import duties and vat until they are released for sale or export.

MORE ABOUT BOND STORE SOLUTIONS

By utilizing our Bond Store services, you gain access to a range of benefits that can significantly enhance your business operations:

What is a customs Bond Store :

A customs bonded warehouse, also known as a Bond Store, is a customs regulated and protected facility designated for the storage, inspection, or further manufacturing of goods. Importers can utilize this secure space without immediate payment of duties and taxes. There are different type of Bond Stores offered that serve a specific purpose. Customs duties and VAT may be deferred for a period of up to two years in a Bond Store. Why would it be beneficial to use a Bond Store?

Importers often find it beneficial to temporarily defer the entry of goods into the country upon arrival, as the payment of VAT and import duties is postponed until the goods are moved. In such situations, a bonded warehouse serves as a secure interim storage solution until the importer is prepared to finalize the importation process.

The major benefits of utilizing a Bond Store:

Duty and Tax Deferral:

The primary function of a Bond Store is to defer the payment of import duties and taxes. This can be advantageous for businesses as it allows them to store goods and delay the financial obligations associated with importing until the goods are ready for distribution or sale.

Bond Store facilitate international trade by providing a temporary storage solution for goods entering a country. This can be especially useful for businesses involved in global supply chains, allowing them to manage inventory strategically.

Goods stored in a Bond Store may be re-exported to another country without payment of duties and taxes in the original importing country. This flexibility is beneficial for businesses engaged in transshipment or distribution to multiple markets.

Bonded warehouses provide a secure environment for quality inspection, testing, or any other processes that need to be carried out before the goods are released into the domestic market. This is particularly relevant for certain industries with specific regulatory requirements.

Bond Stores offer temporary storage for goods before they are released into the domestic market. This can be crucial for businesses that need time to find buyers, establish distribution channels, or comply with other regulatory requirements.

In some cases, bonded warehouses may allow certain manufacturing or processing activities to be conducted on the stored goods. This can add value to the goods before they enter the domestic market.

Bond Store are under customs control, ensuring that the goods are stored securely and in compliance with customs regulations. This helps prevent unauthorized access or tampering with the goods.

Accurate documentation and record-keeping are crucial in bond stores to track the movement of goods, changes in ownership, and any other relevant information for customs and regulatory purposes.

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