DIFFFERENCE BETWEEN PRIVATE AND BONDED WAREHOUSE

🔶PRIVATE WAREHOUSE

Private warehouses are owned by large retail corporations, wholesalers, manufacturers and distributors. It is commonly referred to as proprietary warehousing. 

Private warehouses usually require a considerable upfront investment in construction, facility management and maintenance. They give companies the ability to tailor their storage and shipping processes as per their requirements.

4 KEY POINTS:

• Increased Flexibility
• Improved Inventory Control
• Reduced Shipping Costs
• Greater Security

🔶BONDED WAREHOUSE

A bonded warehouse is a sight where shippers can store imported goods before customs have processed them. Generally, there are two types of Bonded warehouses: Wet and Dry. Wet bonded warehouses allow the storage of alcohol and tobacco. Dry bonded warehouses store other imported goods. The private agencies that run bonded warehouses must obtain a government license before getting into this business. 

4 KEY POINTS:

• You can hold on to duty tax and payments until you clear your cargo.
• Storage can be long term.
• Your goods are stored closer to ports.
• Quality of your products can be preserved.