BONDED WAREHOUSES REQUIREMENT

Basic Requirements

Inspection Report from the Area.
Format Application
Certificate of Incorporation
Memorandum and Article of Association
Particulars of Directors – Form Sale 2.3.
Current Customs Agent Licence.
Audited Account of the Company.
Forms Sale 158.
Site Plan and Premise’s Plan
Sketch Diagram of the location.
Vehicle Particulars.
Letter of Recommendation from a reputable Bank.
Additional Requirements


The application must be a reputable corporate body with necessary facilities to operate a bonded warehouse.
The applicant must be able to show evidence that this business enterprise would suffer greatly if denied bonded warehousing facilities.
Goods evacuated to a bonded warehouse must be cleared within a period of three months with duty and charges fully accounted for.
There shall be periodic audit of warehouses goods.
The bond security in respect of the warehoused goods should not be less than 15% of the duty payable. This is apart from the general bond which the operator must execute with any of the Customs Duty collecting Banks.
Any bonded warehouse operator who violates any of the concessions granted under the procedure shall have his licence or approval withdrawn and made to face prosecution and or a fine of 200% of the value of the bond.
Every bonded warehouse should be linked to the ASYCUDA for purposes of accountability and ensuring that every cargo is properly assessed and duty paid.
The importer would have specified on his Form “M” that the cargo would be cleared through a specified bonded warehouse.