CM204 Q4

What is the primary purpose of a Customs Bonded Warehouse (CBW)?

• To store imported goods without immediate duty payment

• To manufacture local products for domestic use

• To facilitate the export of raw materials

• To serve as a retail distribution center

Before a CBW can operate, what must be assigned by the Warehousing Coordinating Division (WCD)?

• A customs officer

• A warehouse number

• An import-export permit

• A financial bond

Which of the following is NOT a requirement prior to CBW operation?

• Installation of required signages

• Payment of warehouse supervision fee

• Hiring an external logistics provider

• Conduct of final inspection for compliance check

What is the format of a CBW number with an Authority to Operate?

• Number-Type-Port

• Port-Type-Number

• Warehouse-Type-Number

• Type-number-Port

Which of the following is a correct warehouse type classification?

• Common – “C”

• Garment – “G”

• Miscellaneous – “M”

• All of the above

Who assigns customs personnel to supervise warehouse operations?

• CBW Operator

• District Collector

• Bureau of Internal Revenue (BIR)

• Department of Trade and Industry (DTI)

What bond must be posted to ensure compliance with customs laws?

• General Warehousing Bond

• Performance Bond

• General Transportation Surety Bond

• All of the above

Where should the Authority to Operate certificate be displayed?

• Inside the warehouse storage area

• In the customs district office

• In a conspicuous place in the CBW operator’s office and entrance

• At the port of entry

What system must CBWs subscribe to for inventory tracking?

• Electronic Financial Reporting System

• Automated Inventory Management System (AIMS)

• National Logistics Coordination System

• Customs and Trade Security System

What is required before imported raw materials are manufactured and exported?

• Import license renewal

• Posting of a General Warehousing Bond

• Approval from the Department of Finance

• Shipment consolidation at the customs terminal