Bonded Warehouse
A bonded warehouse is a warehouse operated by a private company in a foreign country under the regulatory supervision of that country’s customs agency.
A bonded warehouse is a secured facility that is authorized by customs authorities to store imported or exported goods. It allows businesses to store goods without paying import duties, taxes, or customs fees until the goods are cleared for domestic consumption or re-export. The concept of bonded warehousing emerged to facilitate international trade by providing a controlled environment for managing goods in transit.
Types of Goods Stored in a Bonded Warehouse
Bonded warehouses can accommodate various types of goods, including:
- Raw materials
- Finished goods
- Perishable items
- High-value goods
- Goods subject to import restrictions
- Goods awaiting re-export