A bonded facility is a secured and authorized storage area where goods can be kept without immediate payment of duties, taxes, or tariffs. The main purpose of a bonded facility is to provide temporary storage for imported goods until they are sold, exported, or destroyed. This type of facility offers many benefits for businesses involved in international trade, such as managing cash flow and reducing financial risks. Bonded facilities must meet strict security requirements to ensure the safety of the stored goods. Overall, using a bonded facility can provide a cost-effective and efficient solution for businesses that require flexible and secure storage options.
Non-Bonded Warehousing
Non-bonded warehousing refers to a standard storage facility where goods are stored but not authorized by customs authorities to be held without immediate payment of duties, taxes, or tariffs. Any goods stored in a non-bonded warehouse are immediately subject to the payment of any applicable fees. This type of warehousing can be advantageous for businesses that require short-term storage or do not have significant import/export requirements. It is also suitable for companies that want to maintain tighter control over their inventory and avoid storing goods in an external facility. However, non-bonded warehousing may not be cost-effective for businesses needing long-term storage options or engaged in international trade.
