An in-bond warehouse is a warehouse facility that is secure and is in compliance with customs rules. These facilities provide optional services to companies that export products abroad, helping them to ensure their products are safely and legally delivered. There are several reasons why business owners should consider using in-bond warehouses. Here is a look at some of the advantages of a bonded warehouse:
Safe and Secure
In-bond warehouses are monitored 24 hours a day using cutting edge security cameras and efficient inventory systems. Business owners can be sure that their stored goods will be kept safe, secure, and even refrigerated if necessary! Whether goods are big, small, or perishable, a bonded warehouse serves as a great storage facility.
Long Term Storage
Many bonded warehouses will agree to hold goods for an extended period of time – even for years at a time. They also offer storage equipment such as dry containers and deep freeze units that can help protect the products and will ultimately extend shelf life. Because of this, companies may find that they preserve their products better by placing them in a warehouse.
When goods are stored in a bonded facility, the payment of duty taxes on goods is deferred until they have been removed from storage. Warehouse managers provide business owners with a bond during that time to guarantee against a loss of revenue. This bond is simply a guarantee to the government that duties on the goods will eventually be paid – somewhat like an insurance policy. Many business owners look to bonded warehouses as a strategic move to save money over time. Because taxes are deferred and duty is not required, companies can save anywhere from 25 percent to 30 percent on duty taxes.
Simplify the Process
Bonded warehousing services provide companies with simple solutions to complicated trade processes. They work with clients to ensure that services are customized to meet specific needs and that logistics are completely taken care of, and they help customers navigate requirements for clearance paperwork. In-bond warehouses are a smart business move for many business owners who want to simplify the international trade process.
The Bottom Line About In-Bond Warehouses
Given all of these benefits, it is clear that using a bonded warehouse to store and distribute trade goods is a wise decision for many business owners. If you have questions about how bonded warehouse services can help your company thrive in the trade world, don’t hesitate to contact a member of our team! We have years of experience providing importers, exporters, and twin plants with personalized and effective service. Cordova Brokerage International is ready to serve your company. Give us a call today!