Private warehouse licensing: requires all risk insurance, payment and indemnity undertakings, and appointment of an experienced warehouse keeper. Licensing of private warehouses requires the Commissioner to be satisfied of compliance and, as conditions of grant, the applicant must provide an all risk insurance policy in favour of the President of India covering specified risks for duty equivalent exposure; give an undertaking to pay duties, interest, fines and penalties under the relevant statutory and regulatory provisions; indemnify the customs authority against liability for loss or damage to warehoused goods during receipt, storage, handling, dispatch or delivery; and appoint an experienced warehouse keeper.