Bonded Warehouse

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Related to bonded warehouses: Bonded goods, Warehouse Entry, Bonded Storage

Bonded Warehouse

A warehouse in which imports may be stored without payment of tariffs or other duties for a certain period of time. A bonded warehouse provides not only space but also facilities to clean, repackage or even complete the manufacture of the imports. Importers have a given period of time (such as five years) to pay the tariffs and remove the goods from the bonded warehouse. It is called a bonded warehouse because the importer must post a bond to compensate the government if the goods are released without tariff payment. It is also called bonded storage or a bonded terminal. See also: Bonded goods.
References in periodicals archive ?
Customs staff also apparently took bribes to help criminals fake shipments overseas from two bonded warehouses in London and East Anglia avoiding VAT.
Increasingly, companies sourcing merchandise abroad are utilizing customs bonded warehouses or foreign trade zones to protect their brand names and product integrity.
New Brazilian law allows bonded warehouses to double as manufacturing plants.
It was also indicated that contrary to other statements in the ads run by AA 2000, The Exxel Group had contracts through to 2008 and 2009 for the operation of duty free and bonded warehouses respectively and was not currently searching for a new vendor to take these over.
The Yokohama Commodity Exchange said Thursday it will begin futures trading in imported raw silk May 8 for delivery at bonded warehouses at home and abroad.
Now Circle is the only logistics provider and forwarder to have two bonded warehouses, one inside and the other outside the airport zone," said Adrian Ho, managing director of Circle Malaysia.
The same result can be achieved, however, by using bonded warehouses to avoid the VAT on the imported goods.
Cargo Connection Logistics has served as one of this firm's United States Customs Bonded Warehouses and domestic receiving stations and will now provide domestic export services on behalf of the company.
Tenders are invited for Valuation Of Long Standing/ Un-Cleared Cargo Lying At Cfss/ Icds/ Public Bonded Warehouses Or At Any Other Location Within Jurisdiction Of Central Warehousing Corporation, Regional Office, Navi Mumbai
However, it is believed criminals are getting round this by moving goods between bonded warehouses in a complex scam that makes it harder to keep track of products.
In her time she met the Kinks, the Hollies and posed in a great black and white Mary Quant-style dress with a pistol on Newcastle's quayside when the bonded warehouses still existed.
Operation Stockade was an investigation into the removal of ``duty suspended'' beers, wines and spirits from the Fort Patrick bonded warehouse in Ipswich, Suffolk, on the pretence of their being lawfully transported overseas, mainly to other bonded warehouses within the EU.