Bonded Warehouse
Definition of bonded warehouse
A bonded warehouse, also known as a customs warehouse, is a secure facility where imported goods can be stored without immediate payment of customs duties and taxes.
In the UK, these warehouses are strictly regulated by HM Revenue and Customs (HMRC) and are used to store goods under a bond, which is a guarantee that customs duties will be paid when the goods are released for sale into the UK market.
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