A bonded warehouse is a secure facility authorised by customs authorities where imported goods can be stored without paying duties and taxes until they are cleared for entry into the country or exported. Bonded warehouses are typically used by importers and carriers to temporarily store goods while awaiting clearance or further transportation. Bonded warehouses offer several benefits, such as reduced storage costs, increased efficiency, and improved compliance with customs regulations. They are subject to certain regulations and restrictions, such as requirements for secure storage and record-keeping.
