Customs Bonded Warehouses Custom Bonded Warehouses
When goods enter a bonded warehouse, both the importer and the warehouse proprietor incur financial and legal liability under a bond. The liability is canceled when the goods are:
- Withdrawn for supplies to a vessel or aircraft in international traffic
- Destroyed under U.S. Customs and Border Protection supervision
- Withdrawn for consumption within the United States after payment of duty
- No duty is collected until merchandise is withdrawn for consumption. An importer has control over use of money until the duty is paid on withdrawal of merchandise from the bonded warehouse. If no domestic buyer is found for the imported articles, the importing company can sell merchandise for exportation, thereby canceling the importer’s obligation to pay duty.
- Many items subject to quota or other restrictions may be stored in a bonded warehouse.
- Check with the nearest U.S. Customs and Border Protection office, however, before placing such merchandise in a bonded warehouse.
- Duties owed on articles that have been manipulated are determined at the time of withdrawal from the bonded warehouse.