Bonded goods are imported goods held under customs control before applicable duties and taxes are paid or otherwise discharged. They may be stored, processed or moved only as permitted by the relevant customs procedure and bond conditions.
Why are goods kept under bond?
- Defer duty and tax until domestic release
- Store goods intended for re-export
- Consolidate, label or perform permitted handling
- Manage inventory before deciding its customs destination
- Support duty-suspension or special-zone procedures
When does liability arise?
Liability depends on the jurisdiction and procedure. If illustrative goods with a $40,000 customs value are released domestically at a 5% duty rate, ordinary duty would be $40,000 × 5% = $2,000, before taxes and fees. Storage under bond generally defers rather than eliminates that liability unless a lawful relief or re-export applies.
Bonded goods vs. duty-paid goods
Bonded goods remain under customs control with duty suspended. Duty-paid goods have been entered for domestic use and the applicable import charges have been settled or accounted for.
What records are required?
Maintain customs entry references, quantities, locations, movements, permitted processing, release or re-export evidence and inventory adjustments. Unexplained shortages can create duty, penalty or bond exposure.
