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Features of a bonded warehouse

Answer Text:
Bonded warehouses
-These are public warehouses for keeping imported goods until customs duties have been paid against them. They are mainly located at the points through which goods enter a country
Features of a bonded warehouse
-Goods are bonded until customs duty is paid
-Goods can be re-exported while in the warehouse
-Storage charges are made on all goods stored in the warehouse
-Goods can be sold while still under bond
-Goods can be inspected and prepared for sale i.e. they can be repacked, branded and blended while in the warehouse
-Goods are released only on the production of a release warrant
-Goods are stored for a specific period of time after which they may be auctioned.
-Goods are guarded by customs officials.