Thank you!A 'bonded area' is a warehouse where foreign merchandise is brought in without import duty, for further processing or re-exporting. Import-duty must be paid on these goods if are released in the local market.
A tariff-free area/zone/country is one that does not impose any import duty whatsoever for entry into a country.
A great deal of difference.
In the EU, a customs warehouse or tax warehouse can be anywhere. It certainly doesn't have to be near a port, or even an airport. Goods are carried to the warehouse from the port or airport under special conditions.You can't have a bonded warehouse unless the port is a 'bonded port'.
Thank you!In the EU, a customs warehouse or tax warehouse can be anywhere. It certainly doesn't have to be near a port.
From a layman's perspective and partly based on this Wikipedia article, my interpretations would be:In this case, will readers get the meaning of "bonded port area" ?