I use this for storage of "water sensitive" items when out in the canoe, and I have absolutely no complaints.  Whether it's being assault by rain (or snow) from above or sitting in bilge water, nothing I've store in the bag has yet been impacted by water intrusion.  Even when a water bottle, stored inside the bag, leaked once, all of the water stayed IN the bag.  Lots of options for carrying and easy tie down built in.