What is the difference between a bonded warehouse and an ordinary warehouse?

MOOV firmly believes that warehousing is the cornerstone of the supply chain, so what is the difference between a bonded warehouse and an ordinary warehouse? MOOV will take you to find out.

What is a bonded warehouse?

Bonded warehouse refers to the storage of bonded goods in a bonded warehouse approved by the customs. After approval, the imported goods stored in the bonded warehouse can be modified, graded, sampled, mixed and reprocessed in the warehouse. These goods will be exempt from duties if they are re-exported and will be subject to duties if they enter the domestic market. All countries have clear regulations on the storage period of goods in bonded warehouses. The establishment of bonded warehouses can not only facilitate traders, but also facilitate re-export trade.

What is an ordinary warehouse?

A general warehouse is a general warehouse used to store general daily industrial products or agricultural and sideline products that do not require special storage conditions. The technical facilities of such warehouses are relatively simple, only general equipment such as entry and exit, loading and unloading, handling, commodity maintenance, safety and fire prevention, and no special equipment such as heat preservation, refrigeration, air conditioning, and anti-virus. Only goods whose physical, chemical and biological properties are relatively stable and do not interfere with each other can be stored, such as department stores, knitwear, hardware, medical equipment, native products, etc. Due to its strong adaptability and high utilization rate, integrated warehouses are the most widely distributed. In the commercial warehouse network, traditional warehouses account for the largest proportion and are the most widely used.

What are the different characteristics of bonded warehouses and ordinary warehouses?

The bonded warehouse and all goods shall be subject to the supervision and management of the customs. Goods are not allowed to enter or leave the warehouse without customs approval. The operator of a bonded warehouse shall be responsible to the owner of the goods and the customs. Goods in bonded warehouses are re-exported and exempt from customs duties. If they enter the domestic market, they will have to pay tariffs, which can reduce a lot of costs. The cost of ordinary warehouses is lower than that of bonded warehouses, but if the goods need to be stored for a long time, a lot of rent can be saved. If the goods stored in the warehouse under customs supervision are not declared for more than 14 days, the customs will charge a late declaration fee.