Types of Warehouse?
There are majorly three (3) types of warehouse which are;
1. Ordinary Warehouse: This warehouse also known as goods warehouse may belong to the wholesaler or rented by him. It is where the wholesaler stores his goods until they are needed and sold to the retailers or their agents.
2. Bonded Warehouse: It is a place where government keeps goods whose owners have not paid their required duties. As the name suggests, it is hired from individuals who sign bonds with the government not to release the goods until government informs them that the duties on them have been paid.
3. State Warehouse: Also known as Queens warehouse, especially in Britain and other countries under her, is a place where goods that are not allowed to enter a country also known as contraband, seized by the Board of Customs and Excise are kept until they are sold on auctioned to members of the public. This warehouse is owned by the government and this is why it is known as state warehouse-in countries such as Nigeria and others.
Click here to download “Types of Warehouse?” as PDF.
Click here to save this Post as PDF
