Bonded Warehouse
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A bonded warehouse is a customs-controlled facility where certain items, on which duties have not yet been paid, can be stored until the duties are settled.
Bonded warehouses can take the form of various structures, warehouses, or secure storage areas designated by customs authorities.
Bonded goods refer to products stored in these warehouses, which are subject to customs bonds until duties are paid.
There are 11 distinct types of bonded warehouses recognized by customs authorities.
In summary, a bonded warehouse is a customs-controlled facility that offers numerous advantages for businesses engaged in international trade. By allowing the temporary storage of goods on which duties have not been paid, they contribute to cost savings and smoother customs compliance.
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