Warehouse licensing conditions require comprehensive insurance, undertakings for duty payment and indemnity, and appointment of experienced warehouse keeper. Licensing requires an all risk insurance policy in favour of the President of India covering specified perils for an amount equivalent to duties on dutiable goods stored; an undertaking to pay duties, interest, fines and penalties payable in respect of warehoused goods; an undertaking indemnifying the Principal Commissioner or Commissioner of Customs from liability for loss or damage to warehoused goods during receipt, storage, handling, dispatch or delivery; and appointment of an experienced warehouse keeper.