ZIMRA's bonded warehouse at Chirundu Border Post. Image credit zimboguide.co.zw

ZIMRA’s bonded warehouse at Chirundu Border Post. Image credit zimborderguide.co.zw

ZIMSEC O Level Commerce Notes: Warehousing: Bonded Warehouses

Bonded warehouses

  • These are located at ports, boarder posts, large railway stations and big cities.
  • They are privately owned but supervised by the Zimbabwe Revenue Authority (ZIMRA)/ the customs authority.
  • They are used to store dutiable goods whose duty has not been paid.
  • The goods are released once their duty has been paid.
  • Once the duty has been paid a customs warrant is issued giving permission for the goods to be released.
  • The goods can be sold whilst they are in bond i.e. in the warehouse.
  • Goods can be removed in small quantities as needed thus saving on working capital.
  • The goods can also be graded, packed, tinned or bottled while they are in the warehouse.
  • Goods can be moved from one bonded warehouse to another by a bonded carman.
  • Goods are allowed to mature.
  • Are used to store goods fro entrepot trade.

To access more topics go to the Commerce Notes page.

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