bonded warehouse

bonded warehouse
A warehouse, usually close to a sea port or airport, in which goods that attract customs duty or excise are stored after being imported, pending payment of the duty or the re-export of the goods. The owners of the warehouse are held responsible for ensuring that the goods remain in bond until the duty is paid; they may only be released in the presence of a customs officer.

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  • Bonded warehouse — Bonded Bond ed, a. Placed under, or covered by, a bond, as for the payment of duties, or for conformity to certain regulations. [1913 Webster] {Bonded goods}, goods placed in a bonded warehouse; goods, for the duties on which bonds are given at… …   The Collaborative International Dictionary of English

  • bonded warehouse — n. a warehouse, certified by the government and guaranteed by a bonding agency, where taxable or dutiable goods may be stored, with payment of the tax or duty deferred until the goods are removed …   English World dictionary

  • bonded warehouse — n technical an official place for storing goods that have been brought into a country before tax has been paid on them …   Dictionary of contemporary English

  • Bonded warehouse — A Bonded warehouse is a building or other secured area in which dutiable goods may be stored, manipulated, or undergo manufacturing operations without payment of duty.[1] It may be managed by the state or by private enterprise. In the latter case …   Wikipedia

  • bonded warehouse — A place approved by HM Revenue & Customs for the deposit, keeping and securing of goods liable to excise duty, without payment of that duty. This term is often applied to a Customs Warehouse: incorrectly, since no bond is usually required for… …   Financial and business terms

  • bonded warehouse — A building or part of a building, usually at a port of entry, designated by the Secretary of the Treasury as a bonded warehouse for the storage of imported merchandise entered for warehousing, for the manufacture of merchandise in bond, or for… …   Ballentine's law dictionary

  • bonded warehouse — noun 1. : a warehouse under bond to the government for payment of customs duties and taxes on goods stored or processed there 2. : a warehouse insured against loss or damage to goods stored therein * * * ˌbonded ˈwarehouse 7 [bonded warehouse]… …   Useful english dictionary

  • bonded warehouse — UK [ˌbɒndɪd ˈweə(r)ˌhaʊs] / US [ˌbɑndəd ˈwerˌhaʊs] noun [countable] Word forms bonded warehouse : singular bonded warehouse plural bonded warehouses a government building for storing goods that have been brought into a country before tax has been …   English dictionary

  • bonded warehouse — warehouse in which goods are held until customs duties are paid …   English contemporary dictionary

  • bonded warehouse — a warehouse for goods held in bond by the government. [1840 50] * * * …   Universalium

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