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Explain the suitability of bonded warehousing facilities to business.

Solution

Bonded warehouses are those warehouses which are licenced by the government to accept imported goods for storage before the payment of customs duty by importer of such goods.

By storing their goods in the bonded warehouses importer gain some control over their goods even before they have paid duties on them. They can remove these goods in part, that is in small quantities, as and when they are sold, after making payments of the duty and warehousing charges on only part of the goods which they want to remove.

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