Bonded Goods(redirected from Bonded Good)
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Imports stored in a bonded warehouse, which is a location where the goods can be stored without payment of tariffs or other duties for a certain period of time. The warehouse provides not only space but also facilities to clean, repackage or even complete the manufacture of the bonded goods. Importers have a given period of time (such as five years) to pay the tariffs and remove the bonded goods from the warehouse. They are called bonded goods because the importer must post a bond to compensate the government if the goods are released without tariff payment. See also: Bonded warehouse.