A bonded warehouse is a secure facility that is under customs control and used for storing goods for which duty has not yet been paid. These goods are referred to as bonded goods. There are 11 different types of bonded warehouses, each designed to meet specific needs and requirements. Bonded warehouses provide businesses with a way to import goods and defer payment of duties until the products are ready to be released onto the market. This can be useful for businesses that need to import goods for a specific project or that want to take advantage of fluctuating currency exchange rates.
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