Today we will analyze the concept of a “bonded warehouse.”

 

A bonded warehouse is a warehouse where imported goods are stored. One stores products under custom’s supervision, but there are no customs duties; obtaining a license and quotas for storage are also not required.

 

Fees are paid only in the case of sending goods within the country. Storage in such a warehouse is limited to specific periods, after which the goods return to state revenue.

The country’s national legislation determines requirements for the location, arrangement, and equipment of customs warehouses and the procedure for their establishment and operation.

 

There are the following types of bonded warehouses:

? open warehouses, available for use by anyone

? closed warehouses of customs intended for storage of goods of certain persons.

 

The relations between the customs warehouse owner and the person who stores the goods are possible on a contractual basis. Refusal of an open-type customs warehouse owner to enter into an agreement if there is an opportunity to store goods is impossible.