Bonded Goods


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Bonded Goods

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.
References in periodicals archive ?
Imports of molded and bonded goods rose by 10.6%, but market share remained at just 0.9%.
Bonded goods Above, Richard Mervill dresses the part to show off the sea scooters.
Headquartered in Harbor City, California, Universal is a full-service ship chandler that provides provisions, bonded goods and deck and engine supplies to clients across the West Coast.
It provides provisions, bonded goods, chemicals, medical equipment and deck & engine supplies to clients across the Northeast.
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