Get premium membership and access revision papers with marking schemes, video lessons and live classes.

Processing. Please wait.

Disadvantages of bonded warehouse to an individual/importer.

Answer Text:
Disadvantages of bonded warehouse to an individual/importer.
-When storage charges accumulate with time, they may become unmanageable.
-Owners of the goods have no say over the management of the warehouse.
-Goods may be auctioned by the customs authority if the owner does not pay tax on time.
-The responsibility of clearing the goods lies with the owner.