In Bond

Tags: Glossary

Temporary storage of imported goods in a customs-bonded warehouse until they are cleared for entry into the country.

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What does In Bond mean?

In Bond or bonded shipping refers to the transportation of goods that have not yet been cleared by customs or are being transported under bond. This means that the goods are held in a bonded warehouse or in a designated area of a port, and they are not subject to import duties, taxes, or other fees until they are released for domestic consumption. Bonded shipping is used to facilitate the movement of goods through customs and to defer the payment of customs duties until the goods are sold or used in the destination country. 

Related Glossary terms

Bonded Indemnity

Bonded Terminal

Bonded Warehousing

Customs Bonded Warehouse

Non-Bonded Warehouse

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