In plain English
This is a storage place that customs authorities supervise. It is used to hold imported goods before the duty on them has been paid.
In context
Here, "bonded warehouse" identifies the storage location in the customs handling record as a customs-controlled warehouse for imported goods whose duty has not yet been paid.
- Situation
- Completing customs, import, export, duty, declaration, and clearance administration
- What it communicates
- identifies a storage location type in the customs handling record.
Meaning limits
The term itself does not say who operates the warehouse or when the duty will be paid.
Examples
“The importer stored the French wine in a bonded warehouse while the customs duty remained unpaid.”
“In the customs handling record, the tea was shown as held in a bonded warehouse.”