In customs terminology, what does "in-bond" refer to?

The term "in-bond" specifically refers to goods that are imported into a country but have not yet undergone clearance through customs. This allows the importers to temporarily hold these goods within a designated area without paying the duties and taxes typically required upon entry. The "in-bond" status indicates that these goods are under the supervision of customs until they are cleared, either for domestic consumption, export, or other processing.

This system enables businesses to manage inventory more effectively while deferring the payment of duties, which can be crucial for cash flow. As a result, "in-bond" is a common term in customs operations, relating directly to the status of these goods during the import process. Understanding this concept is essential for anyone involved in international trade or customs compliance, as it forms a key part of the overall logistics and regulatory framework governing the movement of goods across borders.