Customs bonded warehouse
A Customs Bonded Warehouse is a secure facility authorized by the government where imported goods can be stored without payment of customs duties and taxes until they are ready for distribution or further processing. It serves as a storage and processing hub for goods that have not yet been cleared by customs. The warehouse is operated under strict customs supervision, ensuring compliance with customs regulations and the security of the stored goods. Importers have the option to store goods in a customs bonded warehouse to defer duty payment until the goods are released for domestic consumption.