Bonded warehouse

A facility for storing controlled materials, such as alcohol and tobacco products, that generally has high levels of security and very limited access.

bonded warehouse

Economy; International economics

(USA) An approved private warehouse used for the storage of goods until duties or taxes are paid and the goods are properly released by Customs. Bonds must be posted by the ...

bonded warehouse

Convention; Conferences

A warehouse authorized by customs authorities for storage of goods on which payment of duties is deferred until the goods are removed.

bonded warehouse

Metal packaging; Shipping containers

A warehouse authorized by Customs authorities for storage of goods on which payment of duties is deferred until the goods are removed.

United Nations Center for International Trade Law (UNCITRAL)

Economy; International trade

An international body that drafts model laws such as the one on government procurement.

Uruguay Round

Economy; International trade

Multilateral trade negotiations launched at Punta del Este, Uruguay in September 1986 and concluded in Geneva in December 1993. Signed by Ministers in Marrakesh, Morocco, in April ...

variable levy

Economy; International trade

Customs duty rate which varies in response to domestic price criterion.

voluntary restraint arrangement (VRA)

Economy; International trade

Bilateral arrangements whereby an exporting country (government or industry) agrees to reduce or restrict exports without the importing country having to make use of quotas, ...

waiver

Economy; International trade

Permission granted by WTO members allowing a WTO member not to comply with normal commitments. Waivers have time limits and extensions have to be justified.