Bonded Warehouse

{
  "id": "MLC-T-ECS-000176",
  "term": "Bonded Warehouse",
  "field": "Economic statistics",
  "definition": "An approved private warehouse used for the storage of goods until duties or taxes are paid and the goods are properly released by U.S. Customs and Border Protection (CBP). Bonds must be posted by the warehouse proprietor and by the importer to indemnify the government if the goods are released improperly. Goods entering a bonded warehouse are included in General Imports but not Imports for Consumption. They are considered Imports for Consumption when they leave the bonded warehouse for domestic consumption.",
  "subject": "Foreign trade",
  "see_also": [
    "Manufacturing and Trade Inventory and Sales",
    "Statistics about Foreign Trade",
    "U.S. Customs and Border Protection (CBP)",
    "Wholesale Trade"
  ],
  "references": [
    "U.S. Census Bureau Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/bonded-warehouse/"
}