Types of Warehouses
(1) Public Warehouse
It is operated in. accordance with the law for the purpose of storing goods for other people at profit. Some times a large arrives in part when it is not Convenient for the importer to take in into his custody. During such periods these goods have to be stored somewhere. Similarly, even in trade they have to be stored between the time they are made and the time they are required for use. A public warehouse provides facilities for storing all such goods. It thus render many useful services to the trade. It enables smaller sellers to carry regional stocks. This factor is very important in competitive markets.
(2) Private Warehouse
This type of warehouse belongs to the owner of goods, usually a wholesaler, who stored his goods. There in order to supply to retailers in future. Goods are produced in large quantities in anticipation of future demand and for the unknown customers. The ultimate wholesaler finds it necessary to purchases goods in advance in large bulk and to store them for future supply.
(3) Bonded Warehouses
It is one which is licensed to accept imported goods for storage before payment of customs duties. By storing his goods in a bonded warehouse the importer gains some control without paying the duty. The goods in bonded warehouses are under the strict supervision of customs officers and before the owner can interfere with them, previous permission is necessary.
(4) Government Warehouse
This type of warehouse is mainly located at the important sea ports and in most cases is owned by the Dock Authorities. The general public can also use this group of warehouse on payment of fixed charges. If a customer cannot pay the rent within the specified period or time, then the authority can recover the rent by disposing of the goods.
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