Do You Require a Bonded Warehouse?
A bonded warehouse (commonly referred to as a bond store) is a licensed secure area where imported dutiable goods are stored without importers having to immediately pay duties. This can assist importers with their cash flow by deferring the payment of duty until the goods are required in the marketplace. The duty will be payable to Customs prior to removal from the warehouse. It is also a helpful mechanism when goods are intended for export, allowing the importer to avoid the outlay of Customs duty.