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of <h1>Private Warehouse License: Insurance, Duty Undertaking, and Experienced Keeper Required Under Compliance Rules</h1> Applicants seeking a private warehouse license must meet specific conditions post-inspection and compliance evaluation. They must provide an all-risk insurance policy covering various risks, including natural calamities and theft, in favor of the President of India, equivalent to the duty on stored goods. Additionally, they must undertake to pay any applicable duties, interest, fines, and penalties related to the warehoused goods. They must also indemnify customs authorities against liabilities from loss or damage to goods. Furthermore, they are required to appoint a warehouse keeper with adequate experience in warehousing and customs procedures.
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