Bonded goods are shipments that have pending customs payments, such as taxes, duties or penalties. They are consequently held by customs supervised storage facilities known as bonded warehouses until customs charges are paid. However, in countries such as the United States, where a third party manages the bonded warehouse, the importer is usually required to produce a customs bond in advance of the commodities being imported. Failure to process payment beyond a certain deadline will result in the destruction or other disposition of all bonded articles in the shipment by U.S. Customs.
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Alibaba.com is the leading platform for global wholesale trade serving millions of buyers and suppliers around the world. Through Alibaba.com, small businesses can sell their products to companies in other countries. Sellers on Alibaba.com are typically manufacturers and distributors based in China and other manufacturing countries such as India, Pakistan, the United States and Thailand.