In Bond

Summary of In Bond

The condition of goods that have been temporarily exempted from customs clearance and duties, in lieu of which the importer or custodian of the goods has posted a surety with customs authorities to ensure that the goods will not be released or consumed until formal examination and clearance have taken place. Normally, in-bond merchandise must remain under the supervision of customs personnel or of firms specially licensed by customs, e.g., bonded warehousemen.

(Main Author: William J. Miller)

In-bond in International Trade

Meaning of In-bond, according to the Dictionary of International Trade (Global Negotiator): A term used to describe cargo that has not been cleared by customs to enter the commerce of a country.



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