Warehousing reforms under the Customs Act: new licensing, lock-based movement, computerized records and revised bond requirements. The amendments establish separate licensing regimes for Public, Private and Special Warehouses and require Special Warehouses storing notified classes of goods to operate under customs lock and obtain licenses under the Special Warehouse Licensing Regulations. Existing licensees have a transitional period to migrate to record-based controls. Escort requirements for intra-town and export movements are replaced by affixation of serially numbered one-time locks. Bonds and security formats have been re-prescribed, regulatory sampling in warehouses is permitted with recordkeeping obligations, and warehouse records must be computerized to access liberalized procedures.
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Warehousing reforms under the Customs Act: new licensing, lock-based movement, computerized records and revised bond requirements.
The amendments establish separate licensing regimes for Public, Private and Special Warehouses and require Special Warehouses storing notified classes of goods to operate under customs lock and obtain licenses under the Special Warehouse Licensing Regulations. Existing licensees have a transitional period to migrate to record-based controls. Escort requirements for intra-town and export movements are replaced by affixation of serially numbered one-time locks. Bonds and security formats have been re-prescribed, regulatory sampling in warehouses is permitted with recordkeeping obligations, and warehouse records must be computerized to access liberalized procedures.
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