CORe Exam Dumps | A firm purchases large quantities of parts from an overseas supplier in order to take advantage of volume

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HBX.CORE.v2024-09-27.q132
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Question 22/132

A firm purchases large quantities of parts from an overseas supplier in order to take advantage of volume discounts. The firm wants to delay paying duty on the parts until they are required for manufacturing. Given this situation, which of the following Is the MOST appropriate course of action for the firm to take?

A. Facilitate direct entry of the materials by way of a customs house

B. Engage the services of a customs broker

C. Apply for a temporary import bond

D. Store goods in a bonded warehouse and release as needed

Correct Answer: D

Storing goods in a bonded warehouse and releasing them as needed is the most appropriate course of action for a firm wanting to delay paying duty on parts until they are required for manufacturing. Bonded warehouses allow the storage of imported goods without paying duty until the goods are withdrawn for use or sale. This approach can improve cash flow and provide flexibility in managing inventory and duty payments.
References:
* U.S. Customs and Border Protection. (2021). Bonded Warehouses.
* Burt, D. N., Dobler, D. W., & Starling, S. L. (2003). World Class Supply Management.

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