National

What Are Key Benefits For GBPA Licensees?

GRAND BAHAMA, BAHAMAS – As a licensee or GBPA, you’re also entitled to something that’s called a Customs Bond,” says Colebrooke And that’s just one of the benefits for licensees.

Published

3 months ago

February 5, 2025

Italia Hall

GRAND BAHAMA, BAHAMAS – “As a licensee or GBPA, you’re also entitled to something that’s called a Customs Bond,” says Colebrooke And that’s just one of the benefits for licensees.

Customer Relations Manager at the Grand Bahama Port Authority Nicole Colebrooke explains how customs bonds work and which categories of licensees qualify for them.

“We realize that everyone may not require a custom spawn. However, for example, for service businesses like construction, anyone who has a manufacturing facility your license, then, along with your custom spawn affords you the opportunity to bring in all of your building materials, fixtures, fittings, anything that you need for the ongoing concerns of your business. You can bring those in do bring those in duty free, as well as licensees or employees. Of licensees, can build their home duty exempt,” says Colebrooke

Under the customs bond, licensees can also receive duty-free vehicles and fuel, providing significant savings and convenience.

Additionally, the GBPA offers grant programs to support its licensees.

Colebrooke highlights how they are intentional about exposing businesses to valuable opportunities and ensuring they have the resources they need to thrive. She adds, the goal is always to help licensees stay in business and grow.

“We realize that there are many people who cannot pay their bills in full. So, management decided that, finally, to assist them we issued temporary certificates of good standing. So, every month, you actually pay an installment and you’ll be issued a temporary certificate, or in many ways, where you may not have been a good steward within your license fee and we’ve assisted over the years,” says Colebrooke