Warehousing is the process of storing physical goods before they are sold or further distributed in a dedicated warehouse or storage facility. Warehouses safely and securely store products in an organized way to track where items are located, when they arrived, how long they have been there, and the quantity on hand.
There are several types of warehousing solutions tailored to suit your business needs. One of the cost-effective ones we will consider is the customs warehousing.
The term Customs Warehousing defines a customs procedure with which imported goods are stored under Customs control. Goods are kept within the secured confines of a customs bonded warehouse or private bonded warehouse, without payment of import duties and taxes.
Warehoused goods undergo various forms of handling to improve packaging or prepare them for shipment. Handling process may vary but includes grouping of packages, sorting and grading and repacking. It is not intended to alter any essential character of the goods themselves.
Benefits of a ware house
Several benefits accrue for the use of a bonded or customs warehouse. Some benefits a business can enjoy are:
You do not have to worry about the safety of your wares. Bonded warehouses are fitted with adequate lights and suitable ventilators; fitted with doors capable of being locked with revenue locks as part of safety requirements before the facility is licensed under the laws of Ghana.
Are you aware not all goods can be warehoused?
Warehoused goods must be approved for warehousing before being moved into approved warehouse facility.
Perishable goods such as fresh vegetables, fish and meat products are allowed for a period of three months with no option to re-warehouse, or else the goods will be auctioned.
Secondly, general goods are allowed for a year without an option to re-warehouse and the third group, raw materials, have a grace period of two years with an option of one year to re-warehouse.
However, there are goods that cannot be warehoused according to Customs Bonded Warehousing regime, effective 1st November, 2018. These goods are: ethanol, tomato paste, cooking oil, canned drinks, canned fish and lead acid batteries.