Centerport Inc. is proud to serve our government as a United States Customs Bonded Warehouse. What does that accreditation mean? It means that Centerport Inc. has satisfied the rigorous requirements of Title 19, United States Code (U.S.C.), section 1555 for a secured area (public bonded warehouse), where goods are held for payment of duties and other charges owed. Those standards include insurance inspections to verify fire safety and security measures of the premises, background checks of all key employees, and many other factors.
We carefully ensure that the G.O. goods entrusted to us are not co-mingled with unbonded merchandise or domestic shipments. We maintain full accountability with strict inventory controls and record-keeping systems, verified through regular audits. In this role, Centerport Inc. assumes liability for safe and reasonable storage of the goods until they are claimed (which may be up to five years) at the importer’s expense.
What are the advantages of using a bonded warehouse? The importer of the goods may keep merchandise in storage, manipulate its form, and find markets to sell into prior to withdrawing the goods for import. This allows the importer to use capital for other reasons until the goods are ready or there is a buyer. In the event a buyer cannot be found or the goods cannot be made suitable for sale, the merchandise may be re-exported and it is not subject to import duties, excise tax, or quota charges.