What are "in-bond" shipments?

"In-bond" shipments refer to goods that are transported under customs control but have not yet been formally imported into the country. This procedure allows these items to move within the territory of a customs jurisdiction without the payment of duties and taxes, as long as they remain in-bond and are subsequently exported or imported into the country.

When goods are placed in-bond, they are essentially on hold, pending the filing of customs documentation or a decision regarding their final status. The in-bond process is crucial for businesses that need to transport goods for processing, storage, or eventual export while delaying the payment of duties. This provides flexibility in logistics and cash flow for companies engaged in international trade.

In comparison, items in a bonded warehouse (reflected in another choice) are a specific type of in-bond procedure but do not encompass all aspects of in-bond shipments, whereas formal imports that are cleared and ready for distribution would have already gone through customs. Furthermore, the option about exports is unrelated since it pertains to goods awaiting shipment rather than goods under customs control.