Bonded warehousing - SS1 Commerce Lesson Note

Bonded warehousing is a type of warehousing where imported goods are stored in a secured facility, known as a bonded warehouse, under the supervision of customs authorities. The main purpose of bonded warehousing is to provide a temporary storage solution for goods that have not yet been cleared through customs or have specific customs requirements.

Features of bonded warehousing:

·          Bonded warehouses are subject to strict security measures to prevent unauthorized access and protect the goods stored inside. Customs authorities ensure that the goods are properly accounted for and controlled to prevent smuggling or illegal activities.