May 18, 2022

What is a customs bonded warehouse? 

A customs bonded warehouse is a secure location where goods and inventory can be stored, imported and exported. The difference between a non-bonded standard warehouse and that which is bonded relates to the connection with customs. A bonded warehouse falls under the regulatory supervision of the country's customs agency. 

When goods are stored in a non-bonded warehouse, an importer must pay taxes on goods received and ensure they are fully inspected immediately. However, when using a customs bonded warehouse, goods can be held until duties and inspections are addressed. In some cases, exporters can defer payment of duty and taxes until the goods have been purchased. Bonded storage can provide significant cost savings and allow for goods to be stored closer to the end user.

What are the benefits of a customs bonded warehouse?

• A privately owned customs bonded warehouse must have a designated area within the warehouse that is used solely for importing goods. 
• The use of a customs bonded warehouse has advantages for long term storage, allowing importers to develop strategic relationships with local vendors. 
• Cost Savings are significant as duties are deferred until the goods leave the bonded warehouse. 
• Customs bonded warehouses have advantages for storing restricted goods, as lengthier periods of time are allowed for storage, giving the importer additional time to take care of paper work and legal requirements. 
• Ideal for international businesses, a customs bonded warehouse allows a shipper to store goods in strategic locations across the world in order to be closer to the end-user.
• Value added services can be conducted to manage local requirements for the products held in a bonded warehouse such as labelling, testing, packaging etc. in order to prepare the goods for the local market. 

In summary, storing goods in a customs bonded warehouse allows an importer to have a simplified approach to its international shipping processes. Goods are held securely and safely whilst duties and taxes are deferred until the goods leave the warehouse. Lengthier time is allowed for paperwork, payments and inspection and storage can be long term.

Global Warehouse Footprint

Crane Worldwide Logistics has a global footprint of bonded warehouses throughout the world, our 3PL contract logistics capabilities provide flexible logistics solutions to meet the needs of our clients.

Leveraging our suite of flexible and scalable logistics applications, Crane Worldwide Logistics understand the need to be agile and quick to implement your warehouse and distribution programs providing customized logistics solutions to support your worldwide operations. Using our technology can provide inventory visibility at multiple locations. You can learn more about our warehouse management system here

Additionally, with our "Any to Any" technology translation toolset, we can implement new projects with integration leveraging our client's existing file formats. How can we help you with cost savings for your future bonded warehouse requirements?

We have bonded warehousing throughout the United States and around the world. Reach out to your local warehouse experts and view our full location details here

Did you know? Crane Worldwide Logistics offers Global Trade Advisory and Customs Services support. Reach out if we can help. 

UK Customs Bonded Warehouse - Brexit 

Customs Warehousing Brexit - The Brexit transitional period ended on the 31^st December, 2020. With increased uncertainty over the outcome of the EU-UK trade relationship, Although a trade deal has been negotiated between EU and the UK, customs bonded storage in the United Kingdom could provide cost benefits to your business. With the potential of increased customs duty in the UK, a bonded warehouse could hold advantage for those importing and exporting into the United Kingdom.

With the deferment of Duty and VAT using a UK bonded warehouse facility, goods can be stored ‘duty free’ until they physically leave the bonded warehouse. Do you need customs warehousing to support you through Brexit?

When exporting your cargo from the UK, duty will be payable in the country of destination. If you would like to know further information on the UK customs bonded warehouse twe have available at Crane Worldwide Logistics, please reach out.

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Crane Worldwide Ireland announces three customs bonded warehouse facilities in Shannon, Cork and Dublin.

Customs Bonded Warehousing can be of great benefit to companies selling into the Irish market and/or for companies importing from outside of the European Union, especially those authorized for Processing Under Customs Control (PCC). Crane Worldwide Logistics Ireland can now perform customs clearance receipt of stocks into our customs warehouse with the suspension of duty.

Our logistics experts in Ireland look after the reporting of stocks under our control to Irish Revenue (Customs) and can then transfer stock to our client's facility under their PCC Authorisation.

Irish exporters, therefore, save significant costs on paying duty on the materials that have been importing as well as savings in relation to exported finished products using the bonded warehouse available for your EU requirements.

This can mean huge savings for Irish Exporters and/or for the company outside of the European Union selling to Irish Exporters. Our warehouses in Ireland are located in Shannon, Cork and Dublin, we are here to help! You can reach out to our Irish team for more information here