Bonded Warehouse

Import of goods to a country normally involves payment of its customs duty, taxes, or any other charges to the government at the time of import. However, in some special cases, goods are allowed to be imported without payment of customs duties and other charges upfront. These goods are then stored in special bonded warehouses and either cleared or re-exported at a later point in time, on a need-basis, after payment of the necessary customs duties and taxes.