Bonded Warehouse and Customs Suspension Regimes
Customs warehousing, free zones and transit procedures, when duty crystallizes, and the guarantees and records a suspension regime requires.
A customs suspension regime allows goods to be stored, moved or processed without duty and import tax falling due, on the condition that they remain under customs control. Duty crystallizes only when the goods are released for free circulation or when the regime is breached.
The full article will cover customs warehousing in its public and private forms, free zones and free ports, temporary admission and ATA carnets, external and internal transit procedures and the guarantees they require, the record-keeping obligations that make an authorization workable, and the events that discharge or breach a regime.
For a shipping reader the operational point is that a container discharged into a bonded facility has entered the country physically without entering it fiscally, which changes who is exposed and when, independently of what the Incoterms rule says about delivery.