With freight forwarding companies as does Transco Cargo based in Australia, often the term “Customs Bonded Warehouses” is used when referring to the services offered. But for those who are not in the logistics industry, this may well be an alien term. Thus, in this blog post by your reliable freight forwarding company Transco Cargo, we look at explaining what they are and why customs bonded warehouses are important.

What are Customs Bonded Warehouses?

First and foremost, let’s define a customs bonded warehouse. It is a secure warehouse facility and location that facilitates the storage of imported goods without the importer/exporter or the warehouse needing to pay customs duties and is covered by customs rules & regulations.  Whilst the majority of these customs bonded warehouse are owned by the government, private freight forwarding companies have also implemented the use of such customs bonded warehouses such as Transco Cargo which has 3 customs bonded warehouses in Melbourne for the convenience of our customers.  Operating our Melbourne customs bonded warehouses means that we are require to carry through a posted customs bond and supervision from the customs authority is also facilitated for transparency.

Why are Customs Bonded Warehouses are Advantageous?

Businesses or persons who utilize customs bonded warehouses take advantage of the optional service that is made available to them in order for their goods and cargo to be stored safely and legally before shipment or delivery takes place.

There are various instances where customs bonded warehouses make for the ideal solution. These include the likes of the following;

1. When using a customs bonded warehouse for storage, the payment of duties and taxes are deferred until the goods and/or cargo moves out. The time you choose to store your goods/cargo at the bonded warehouse is based on the bond you agree to with a guarantee.
2. The safety of your goods/cargo are guaranteed as the customs bonded warehouses are manned by security personnel with 24 hour CCTV coverage.
3. Furthermore, they are also ideal for storing goods/cargo of varying shapes and sizes.
4. Transco Cargo, who offers turnkey logistics solutions, also offers the option of shipping and delivery of your goods/cargo, making it an ideal choice due to its offer of being a total logistics and warehousing solution.
5. Long term storage can be facilitated against the bond you are opting for, and your goods/cargo will be secure without the need to pay duties/taxes.
6. In the event, you have imported goods that fall within the definition of restricted goods, you are able to put to use a customs bonded warehouses until all legal and restrictions can be dealt with whilst the goods/cargo are kept safely within the customs bonded warehouses.