In my last blog, we touched on the primary benefits of importing goods through a Customs Bonded Warehouse – big savings on governmental duties. Even experienced enterprises may overlook situations where bonded warehousing makes dollars and sense. So let’s look a little more closely at some real-life examples to get you thinking about where you could realize similar savings.
One of our clients is a large freight forwarder. Among other commodities, they purchase shipments of alcohol overseas and have it delivered to Challenge. They might get a container of rum from Jamaica and another of whiskey from Ireland. We consolidate those goods and repackage them for shipment to customers outside the United States. Their customers get a case of rum and a case of whiskey. This saves our client from paying any U.S. Customs duties on the alcohol.
A wealthy United States businessman is building a second (or third, or fourth) mansion home in the Caribbean. His building contractor shipped an order of Italian marble to Challenge, where we store it duty-free until the construction crew is ready to install. Depending on the home locations of the builder and the homeowner, governmental fees are charged only when the marble is dispatched to its final destination, or may be waived altogether.
Our interior decorator client got a great deal on a container of gorgeous silk damask fabric. It sits at Challenge, safe and secure. As she needs the fabric for draperies, she pays Customs duties only on the portions she sells to her customers, rather than on the whole shipment up front.
Yachts are commonplace in the Caribbean, so tradesmen who specialize in yacht refurbishing are in demand. Our client may need anything from parts for an engine to rare wood paneling, obtained from any country in the world. He moves these to Challenge until he needs them for the job – duty free if the work is sold outside the U.S.
These are just a few examples of how Challenge, located in Broward County, Florida – gateway to the Caribbean – has partnered with all sorts of clients to improve their bottom lines.
Now we want to hear your story! Tell us about a situation where you did or should have used a Customs Bonded Warehouse. How did it turn out? Were you satisfied with the service and savings?