{"id":3254,"date":"2024-02-17T15:33:45","date_gmt":"2024-02-17T15:33:45","guid":{"rendered":"https:\/\/bcbp.pw\/?page_id=3254"},"modified":"2024-03-06T11:24:43","modified_gmt":"2024-03-06T11:24:43","slug":"security-and-license","status":"publish","type":"page","link":"https:\/\/bcbp.pw\/?page_id=3254","title":{"rendered":"Security and License"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"3254\" class=\"elementor elementor-3254\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-045fb04 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"045fb04\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"aux-parallax-section elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-2b7af2d\" data-id=\"2b7af2d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-938a47f elementor-widget elementor-widget-elementskit-heading\" data-id=\"938a47f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"elementskit-heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"ekit-wid-con\" ><div class=\"ekit-heading elementskit-section-title-wraper text_left   ekit_heading_tablet-   ekit_heading_mobile-\"><h2 class=\"ekit-heading--title elementskit-section-title \">Security and License<\/h2><div class=\"ekit_heading_separetor_wraper ekit_heading_elementskit-border-divider ekit-dotted\"><div class=\"elementskit-border-divider ekit-dotted\"><\/div><\/div><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ec01613 animated-slow elementor-section-boxed elementor-section-height-default elementor-section-height-default elementor-invisible\" data-id=\"ec01613\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;animation&quot;:&quot;fadeIn&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"aux-parallax-section elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d2d00f8 elementor-tab-content\" data-id=\"d2d00f8\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e865300 elementor-widget elementor-widget-text-editor\" data-id=\"e865300\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Security<\/strong><\/p><p>Before\u00a0\u00a0 any\u00a0\u00a0 imported merchandise is released from the Bureau&#8217;s custody and stored in a bonded warehouse,\u00a0 the applicant will have to provide the Director of Customs with a bond\u00a0 or\u00a0\u00a0 other\u00a0 security\u00a0 in\u00a0 such\u00a0 sum\u00a0 and\u00a0\u00a0 with\u00a0\u00a0 sureties\u00a0 sufficient\u00a0 to cover\u00a0 the\u00a0 maximum\u00a0 taxes\u00a0 or levies\u00a0 (if applicable) likely to be outstanding on goods in stock at any one time.<\/p><p>The bond may cover a Single Transaction Bonds (STB) to be used to secure a one-time importation or a Continuous Bonds (CB) cover multiple transactions. The bonds are generally for the value of the merchandise plus duties, taxes and fees.<\/p><p>The Director may require such bonds or other security as he, or the\u00a0 Minister, may deem necessary for\u00a0 the\u00a0 protection of\u00a0 the\u00a0 revenue or to assure compliance with any provision of law, regulation, or instruction which the Ministry or the Bureau may be authorized to enforce.<\/p><p>The owner will\u00a0 have\u00a0 to\u00a0 take\u00a0 submit a\u00a0 completed\u00a0 application\u00a0 form\u00a0 together\u00a0 with\u00a0 a\u00a0 detailed\u00a0 plan\u00a0 to include the location and description of the\u00a0 area,\u00a0 an\u00a0 insurance\u00a0 coverage\u00a0 on\u00a0 the\u00a0 bonded\u00a0 goods and other requirements set out in RPPL No. 11-15, \u00a7 1209. Application Requirements.<\/p><p><strong>Annual License Fee<\/strong><\/p><p>In accordance with RPPL No. 11-15, \u00a7 1214. License Fee . It states the following:<\/p><p>Every licensee shall pay to the Bureau an annual fee for the license, for the period beginning on the day on which the license is issued and ending on September 30<sup>th<\/sup>. Annual fees shall be prorated on the portions of the year remaining after the license is issued. The annual fee shall be 1% of the security deposit under this chapter, up to a maximum of $5,000. The fee for each subsequent year will be paid by October 1<sup>st<\/sup> and no license will be issued without the fee being paid.<\/p><p><strong>Amendment of License<\/strong><\/p><ul><li>1215. Amendment of License. (RPPL No. 11-15)<\/li><\/ul><p>The Director may amend a license only where the name of the license has changed legally, or where there has been a change of ownership and the new owner meets the terms and conditions of this chapter.<\/p><p><strong>Calculation of Bond or Guarantee<\/strong><\/p><p>The following is an example of the calculation of the reference amount for the guarantee for a warehouse authorization.<\/p><p>If when calculating the reference amount the duty rate on the goods intended for warehousing is zero then the PGST figure must be used:<\/p><table><tbody><tr><td width=\"781\"><p>Total value of goods which may be placed under customs warehousing per year is estimated to be:<\/p><\/td><td width=\"230\"><p>$1,000,000<\/p><\/td><\/tr><tr><td width=\"781\"><p>Value of goods which may have been placed under customs warehousing at a given point in time according to the storage capacity of the holder of the authorization:<\/p><\/td><td width=\"230\"><p>$500,000<\/p><\/td><\/tr><tr><td width=\"781\"><p>Amount of bond or other security at any one time in\u00a0 such\u00a0 sum\u00a0 and\u00a0\u00a0 with\u00a0\u00a0 sureties\u00a0 sufficient\u00a0 to\u00a0 cover\u00a0 the\u00a0 maximum\u00a0 taxes\u00a0 or levies\u00a0 (if applicable) likely to be outstanding on goods in stock at any one time.<\/p><p><strong>\u00a0<\/strong><\/p><\/td><td width=\"230\"><p><strong>\u00a0<\/strong><\/p><p>It could $1,000 for the year or $500,000 bond or security at any one time.<\/p><\/td><\/tr><\/tbody><\/table><p><strong>Calculation of License Fee<\/strong><\/p><table><tbody><tr><td width=\"775\"><p>Total value of goods which may be placed under customs warehousing per year is estimated to be:<\/p><\/td><td width=\"234\"><p>$1,000,000<\/p><\/td><\/tr><tr><td width=\"775\"><p>Security Deposit shall be the value of goods which may have been placed under customs warehousing at a given point in time according to the storage capacity of the holder of the authorization:<\/p><\/td><td width=\"234\"><p>$500,000<\/p><\/td><\/tr><tr><td width=\"775\"><p>Rate: 1% Calculation of the security deposit, up to a maximum of $5,000.<\/p><\/td><td width=\"234\"><p>$500,000 x 1% = $5,000<\/p><\/td><\/tr><tr><td width=\"775\"><p>Annual License Fee amount is determined as:<\/p><p><strong>\u00a0<\/strong><\/p><\/td><td width=\"234\"><p>$5,000<\/p><\/td><\/tr><\/tbody><\/table><p><strong>License and Bonded Cartage<\/strong><\/p><p>The cartage of merchandise entered for warehouse shall be done by:<\/p><p>Cartment appointed and licensed by the Bureau; and<\/p><p>Carriers designated to carry bonded merchandise.<\/p><p>Such cartmen and carriers shall give bond, in a sum to be fixed by the Bureau, for the protection of the government against any loss of, or damage to, the merchandise while being so carted and necessary for the protection of the government revenue or to assure compliance with any provision of law, regulation, or instruction which the Ministry or the Bureau may be authorized to enforce.<\/p><p>Such cartmen and carriers shall also be in compliance with all applicable environmental laws and regulations concerning the transport of hazardous materials.<\/p><p><strong>Prohibition on Carting Company Ownership and Operation of Bonded Warehouse<\/strong><\/p><p>No license shall be issued to any applicant involved directly, indirectly, or through third parties in cartage, common carrier, inland trucking, unloading, or transportation of the merchandise from importation point.<\/p><p>Persons engage in the cartage, inland freight trucking, common carrier, unloading or transportation of merchandise from importation are prohibited from being bonded warehouse operators, either directly or indirectly.<\/p><p><strong>Staffing Requirements<\/strong><\/p><p>The bonded warehouses shall be used solely for the storage of imported merchandise and shall be placed in charge of a\u00a0proper officer of the customs, who, together with the proprietor thereof, shall have joint custody of all merchandise stored in the warehouse. The officer assigned to a bonded warehouse shall have total access to, without limitation, such license books, records and receipts relating to the entry and withdrawal of merchandise from such customs bonded warehouse. The compensation of such officer and other Bureau employees appointed to supervise the receipt of merchandise into any such warehouse and deliveries thereof shall be reimbursed to the government by the proprietor of such warehouse.<\/p><p>Each bonded warehouse shall be assigned an officer by the Director. A bonded warehouse shall provide all labor and management on the merchandise so stored by hiring private staff. Such licensee shall all maintain all records necessary for the officer assigned to that customs bonded warehouse to assess inventory levels and whether merchandise is withdrawn and excise taxes payable thereon. The officer assigned to that bonded warehouse may enter the premises at any time to inspect operations and records.<\/p><p><a name=\"_TOC_250000\"><\/a><strong>Signing of the Bonded Warehouse <\/strong><strong>Contract<\/strong><\/p><p>Once the approval has been granted, the applicant will be allocated with a bonded warehouse Number (BWN) which has to be fixed at the entrance of the warehouse. The Customs officer will then prepare the Approval of the\u00a0 bonded\u00a0 warehouse\u00a0 and\u00a0 upon\u00a0 agreement,\u00a0 the\u00a0 applicant\u00a0 will\u00a0 sign\u00a0 the\u00a0 approval.\u00a0 The Approval of the bonded warehouse with the license fee and bond will be endorsed by the Director of Customs and approved by the Minister of Finance.<\/p><p>The\u00a0 approval\u00a0 of\u00a0 the\u00a0 bonded\u00a0 warehouse\u00a0 a\u00a0 legally\u00a0 binding\u00a0 document\u00a0 between\u00a0 the\u00a0 BCBP\u00a0 and\u00a0\u00a0\u00a0 the\u00a0 bonded\u00a0 warehouse\u00a0 owner.\u00a0 Upon endorsement of the\u00a0 approval by the BCBP, the bonded warehouse owner will be given Customs approval to proceed with importation.<\/p><p><strong>Responsibilities of Warehouse Keeper<\/strong><\/p><p>The warehouse keeper is a person who assumes the daily duties of the warehouse. It can be the owner of the warehouse or someone appointed by the owner.\u00a0 The warehouse keeper has the responsibility\u00a0\u00a0 to ensure that goods in the warehouse are safeguarded. The goods in the\u00a0 warehouse\u00a0 must\u00a0 be properly\u00a0\u00a0 and\u00a0\u00a0 fully\u00a0\u00a0 accounted\u00a0\u00a0 for.\u00a0\u00a0 Goods\u00a0\u00a0 must\u00a0\u00a0 not\u00a0\u00a0 be\u00a0\u00a0 removed\u00a0\u00a0 from\u00a0\u00a0 the\u00a0 \u00a0warehouse without submitting a Bill of Entry and payment of\u00a0 applicable\u00a0 duties\u00a0 and\u00a0 taxes.\u00a0 The\u00a0 warehouse\u00a0 keeper is responsible for the entry and exit of goods from the warehouse and for the payment of duties, taxes and levies (if applicable). The warehouse keeper must:<\/p><ul><li>maintain all accounts accurately and promptly<\/li><li>comply with all specific conditions set<\/li><li>maintain records of all goods in the warehouse in the form accepted by Customs<\/li><li>pay the applicable duties, taxes and levies upon removal of goods from warehouse<\/li><li>inform Customs when the responsibility of warehouse keeper is transferred to another person<\/li><li>produce the goods and facilitate the examination of goods in the warehouse by Customs when required<\/li><li>conduct stock taking in the presence of Customs officers when required<\/li><\/ul><p><strong>Requirements of Record Keeping<\/strong><\/p><p>All records related to warehouse must be kept for a period of seven (7) years. The warehouse keeper must maintain comprehensive records related to entry and removal of goods in the warehouse.<\/p><p>A monthly report using the template provided by Customs must\u00a0 be\u00a0 submitted\u00a0 to\u00a0 Customs\u00a0 within seven (7) days\u00a0 at\u00a0 the\u00a0 end\u00a0 of\u00a0 every\u00a0 month. The monthly report must\u00a0 be endorsed by the owner of the warehouse or any authorized representative.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Security and License Security Before\u00a0\u00a0 any\u00a0\u00a0 imported merchandise is released from the Bureau&#8217;s custody and stored in a bonded warehouse,\u00a0 the applicant will have to provide the Director of Customs with a bond\u00a0 or\u00a0\u00a0 other\u00a0 security\u00a0 in\u00a0 such\u00a0 sum\u00a0 and\u00a0\u00a0 with\u00a0\u00a0 sureties\u00a0 sufficient\u00a0 to cover\u00a0 the\u00a0 maximum\u00a0 taxes\u00a0 or levies\u00a0 (if applicable) likely to be [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-3254","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/bcbp.pw\/index.php?rest_route=\/wp\/v2\/pages\/3254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bcbp.pw\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/bcbp.pw\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/bcbp.pw\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bcbp.pw\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3254"}],"version-history":[{"count":10,"href":"https:\/\/bcbp.pw\/index.php?rest_route=\/wp\/v2\/pages\/3254\/revisions"}],"predecessor-version":[{"id":3777,"href":"https:\/\/bcbp.pw\/index.php?rest_route=\/wp\/v2\/pages\/3254\/revisions\/3777"}],"wp:attachment":[{"href":"https:\/\/bcbp.pw\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}