Customs Control: Ordinary vs. Bonded Warehouses
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Customs Control: Ordinary vs. Bonded Warehouses

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Questions and Answers

What is the required payment upon approval of the application for a Customs Bonded Warehouse (CBW)?

  • Payment of at least 25% of annual supervision fee (correct)
  • 50% of annual supervision fee
  • Payment of the full annual supervision fee
  • $200,000 performance bond

    • Who is responsible for monitoring the performance of a CBW from importation to liquidation?

  • Automated Raw Materials Inventory and Management System
  • Account Officer (correct)
  • Raw Material Liquidation System
  • Compliance Rate System

    • What do 'accessories' refer to in the context of CBW operations?

  • Imported consumable materials
  • Articles enhancing finished products for export (correct)
  • Supplies needed for manufacturing
  • Raw materials for export

    • What is the purpose of the Automated Raw Materials Inventory and Management System (ARMIMS) in a CBW?

    <p>Tracking imported articles</p> Signup and view all the answers

    What does the acronym BCS stand for in the context of CBW operations?

    <p>Bar Coding System</p> Signup and view all the answers

    Which term refers to imported consumable and disposable indirect materials needed in the operation of a CBW?

    <p>Supplies</p> Signup and view all the answers

    What type of warehouse is not subject to Customs control?

    <p>Ordinary CBW</p> Signup and view all the answers

    Who assumes legal responsibility for the safekeeping of stored articles in a CBW?

    <p>Warehouse Operator</p> Signup and view all the answers

    What is the validity period of a License to Operate for ICBW?

    <p>3 years</p> Signup and view all the answers

    Which industry/enterprise category pays a supervision fee of P100,000.00 for CCBW?

    <p>Medium industry/enterprise</p> Signup and view all the answers

    What do Imported articles in a CBMW intend for?

    <p>Exportation</p> Signup and view all the answers

    What is the purpose of the Customs Bonded Manufacturing Warehouse (CBMW)?

    <p>Manufacturing imported articles for exportation</p> Signup and view all the answers

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