Inbond

{
  "id": "MLC-T-ECS-000924",
  "term": "Inbond",
  "field": "Economic statistics",
  "definition": "A procedure administered by the U.S. Customs and Border Protection (CBP) under which goods are transported or warehoused under CBP supervision until the goods are either formally entered into the customs territory of the United States and duties are paid, or until they are exported from the United States. The procedure is so named because the cargo moves under a bond (financial liability assured by the principal on the bond) from the gateway seaport, airport, or land border port and remains \"inbond\" until CBP releases the cargo at the inland Customs point or at the port of export.",
  "references": [
    "U.S. Census Bureau Glossary"
  ],
  "url": "https://mlchart.com/terminology/economic-statistics/inbond/"
}