A Private Bonded Warehouse is any secure building or place appointed by the Comptroller of Customs by notification to be a private warehouse for the storing and securing of goods without the payment of duties and taxes. Duties and taxes must be subsequently paid via a Customs entry/declaration when there is a request for release of the goods by the importer for home consumption or for export. This type of warehouse is subject to strict Customs controls and restrictions.
A person who wishes to operate a Private Bonded Warehouse must meet the following requirements as are stipulated under PART VII and VIII of the Customs (Control and Management) Act Chapter 422.
The applicant must;
Once approval is granted to operate the warehouse, the warehouse Keeper must;
Section 48 of the CCMA excludes certain goods from being warehoused on importation. See list of goods in First Schedule of the Customs (Control and Management) Act Chapter 422 (See Pages 75-76)
The procedures outlined hereunder deal specifically with the requirements concerning the warehousing of goods on the Entry for Warehousing as follows:
The purpose for which goods are delivered from a Warehouse determines the type of entry that will be necessary to facilitate clearance. In this regard there are three (3) clear distinctions which can be made and these are:
The appropriate Entry must be prepared by the importer and submitted to the Customs Inventory Audit Unit, Customs House Kingstown for verification and acceptance. In the case where duty is payable, all charges must be paid
Once the entry/declaration is correct, the Customs officer will accompany the warehouse keeper or representative to the private warehouse and deliver the goods in question.
All goods remaining in bonded warehouse over two (2) years must be duty paid or may be sold in public auction to recover the duty liability