The facilities and services provided by bonded warehouse to marketing community can be mentioned as follows:
1. Storage Facilities
Bonded warehouse provides better, reliable, safe and economy storage facility. Insurance facility and physical security of the goods are provided in such warehouse.
2. Installment Payment Of Custom Duty
Importers can pay custom and taxes in installment and can take out their goods according to the ration of the paid installment. There is no compulsion to pay lump sum custom at a time.
3. Financing
Banks and financial companies accept bonded warehouse receipt for security to provide loans to the owners of the goods.
4. Sales Of Goods
Bonded warehouse provides facility to the importers to sell their goods to perspective customers from warehouse.
5. Storage Facility For Local Products
5. Storage Facility For Local Products
Bonded warehouse also provides safe storage facilities for the owners of local products such as tobacco, tea, sugar, matches, medicines, drinks etc. until their excise duty or tax has been cleared.
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6. Facility For Exporters
Exporters can keep their goods in bonded warehouse under the care of warehouse authority until ship or train arrives. Similarly, such warehouse is very useful and economy to store goods imported from any country and re-exports them to other. The re-exporter need not pay import tax, and if the tax is paid in advance, it is refunded,
7. Other Facilities
Bonded warehouse provides drying, cleaning and packaging facilities.
In this way, bonded warehouse is very important in marketing. From the arrangement of bonded warehouse goods can be kept safe. Warehouse plays an effective and important role in marketing. It helps in promoting internal and external trade.
