Bonded and Sufferance Warehouse

A bonded warehouse is a storage facility run by a private business in a foreign nation that is regulated by the customs authority of that nation. Its main benefit is the ability to postpone paying customs duties. Bonded warehouses allow companies to store their products closer to international clients for quicker delivery, and they also have the benefit of delaying the payment of customs duties until the products are released from the bonded warehouse. They serve as storage facilities for exported or imported goods.