A bonded warehouse is a place where imported goods are kept pending Customs clearance. There are two types of bonded warehouses: general and private. General bonded warehouse is for any person to keep their goods while private bonded warehouse is used for keeping dutiable goods of the licensee only.
Operators are liable for duty on all goods deposited in the warehouse and are required to pay duty on demand in respect of all goods to MRA. They are also required to have a bond to secure the duty on the goods deposited in the warehouse. Operators are supposed to submit to MRA a receipt on Form No. 26 for each consignment of goods deposited in the bonded warehouse.
A stock card must be attached to each consignment of goods and should show the number and date of the declaration under which the goods were deposited, the number of items, quantity and value of the consignment and the allocated number of the customer. Warehouse operators should take note that all transactions taking place or involving goods in the warehouse must be recorded and kept appropriately for use by MRA.
In case of goods removed from a bonded warehouse or transfer to another bonded warehouse, Form No. 26 must be submitted in duplicate. All packages in the warehouse must be stacked and arranged to enable MRA to easily examine and count them at all times. Each consignment must be stacked separately.
For a general warehouse, the operator is required to clearly mark the name of the owner or importer on each consignment of the goods received. The operator is also required to mark one in every ten packages of a consignment. He/she is also required to keep stamped copies of declarations of goods into and out of the bonded warehouses in correct sequence.
The operator should, however, retain all Customs clearance documents affecting the removal of goods in the warehouse and must produce such on demand. The owner of the goods is expected to clear the same within a period of six months. If any goods remain in the warehouse after the six months period, the licensee is required to either enter them for removal or re-enter them for warehousing within 14 days. Failing which the goods will be taken to MRA warehouse for auction. A licensee can request in writing for an extension beyond the six months period to the Commissioner General.
Finally, warehouse operators are further reminded that their license is valid for one year and must be renewed at the end of every calendar year i.e. at the end of December.
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