What is a bonded warehouse?
A bonded warehouse is a secure storage facility licensed and supervised by customs authorities. Goods are stored in the warehouse are under customs control during the customs clearance process and can’t be released until customs duty, taxes or other fees are paid. Bonded warehouses are commonly used when goods arrive in a country before the owner is ready to receive them, or when there is a dispute about customs classification. Storage in a bonded warehouse typically incurs daily or weekly charges.
Also known as: Customs-controlled warehouse
