Abondedwarehouseisaplace(normally,thoughnotalways,abuilding)licensedbytheCustomsforthedepositandstorageofdutiablegoods.ThepurposeistoallowgoodstobestoredunderofficialsupervisionbeforethepaymentofdutyandthatdutyshouldbecomepayableonlywhenthegoodsaretakenoutofthewarehouseforconsumptionoruseinChina. Bondedwarehousesareapprovedandlicensedaseither:
a.publicbondedwarehousesforthedepositofdutiablegoodsgenerally(i.e.thosebelongingtoanyperson);or
b.privatebondedwarehousesforthedepositofdutiablegoodsbelongingtothelicenseeonly.
WhatAretheBenefitsofaCustomsbonedwarehouse?
Importerswhousethesewarehousesenjoyoneormoreofthefollowingadvantages:
on-sitestorage;just-in-timedelivery;lessoftheircashtiedupindutiesandtaxes
