CARGO and GOOD IN TRANSIT BOND
Customs require a bond on warehouses storing imported goods to ensure that duty is paid once the goods are cleared and removed
Removal in Transit Bonds
This covers goods in transit to another destination. For example goods are imported from South Africa and the end user is in Zambia, the Zimbabwean freight forwarding company does not have to pay duty with respect to these goods. A removal in transit bond is put in place to ensure that goods get to the final customer without duty being paid whilst in transit.
Railway Ledger Bond
This bond is required by the National Railways of Zimbabwe from the companies that use railway carriage facilities on credit. This bond offers security against default of the monthly payments by the respective customers.
Covers the loss or damage of ships, cargo, terminals, and any transport or property by which cargo is transferred, acquired, or held between the points of origin and final destinationù
Covers loss of or damage to the actual ship, yacht or motor boat whilst being used on water, laid up and during transit to and from the lake. Cover also applies to outboard motors and ancillary equipment e.g ship to shore radios e.t.c.
Covers loss of or damage to goods in transit. Cover is from warehouse to warehouse until final destination. Cover is on an all risk basis and exclusions include war, nuclear disaster, wear and tear and damage due to dampness.
Inward Processing Rebates
These cover the importation of raw materials without duty and the goods manufactured therefrom also being exported.
This bond is required by Customs from forwarding and clearing companies who handle goods on behalf of other companies for the due observation of regulations and payment.