Private Bonded Warehouses -Further Guidelines

Private bonded warehouse rules: heightened security, solvency and insurance requirements for sensitive goods, with proportional bond and guarantee safeguards.

Guidelines require categorising private bonded warehouse applicants into sensitive and non sensitive goods handlers and impose differentiated safeguards: sensitive goods applicants must provide a solvency certificate from a scheduled bank, avoid residential locations, maintain robust physical security, firefighting arrangements and comprehensive insurance in favour of the customs authority; existing licences must be reviewed and remediated. Sensitive consignments require proportional cash deposit or bank guarantee security, with an option for revolving bonds; non sensitive applicants need lower solvency and ordinarily the statutory double duty bond, while transit transfers outside metropolitan limits require transfer bonds or guarantees with commissioners empowered to demand higher security.