Public warehouse licensing requires insurance, payment and indemnity undertakings, and an experienced warehouse keeper for customs compliance. Public warehouse licensing requires, following inspection and compliance evaluation, an all-risk insurance policy covering specified risks for duty on ... Summary
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Public warehouse licensing requires insurance, payment and indemnity undertakings, and an experienced warehouse keeper for customs compliance.
Public warehouse licensing requires, following inspection and compliance evaluation, an all-risk insurance policy covering specified risks for duty on dutiable goods proposed to be stored. The applicant must undertake to pay applicable duties, interest, fines and penalties relating to warehoused goods, and indemnify the licensing customs authority against liability for losses arising from accident, damage, deterioration, destruction or other unnatural causes during warehousing operations. A warehouse keeper with sufficient warehousing and customs-procedure experience must be appointed.
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