What is Bonded Cargo?
“Bonded” is a term applied to the status of goods temporarily admitted to a country without the payment of duties to be stored in a transit warehouse or for subsequent shipment to another point, where the respective taxes will be charged.
Bonded or in-transit cargo is especially useful for companies receiving goods from various origins that need consolidation before sending them to their destination, all without paying customs duties in the country where the cargo is in transit.
How does the Bonded Service work in the United States?
- The customer makes purchases from one or several suppliers.
- The supplier dispatches the goods to their destination, in our case: Miami Transit.
- The goods arrive at the port or airport of Miami, where the special permit (7512) is processed to authorize the withdrawal of the goods from the port/airport without nationalization or payment of taxes.
- After the U.S. Customs and Border Protection (CBP) authorizes the movement of the goods, they are picked up by an authorized carrier with permits for handling.
- The carrier delivers the cargo to a Bonded warehouse, or alternatively, to the authorized re-export warehouse.
- If the goods need to be nationalized in the United States, it can be done without any issues through a WITHDRAWAL, the removal of goods from the customs warehouse, where the corresponding taxes are paid, and the goods transition from being “Bonded” to being nationalized cargo.
Form 7512
The transmission of form 7512 is ONLY allowed electronically.
When goods enter the United States from another country and will be exported, it is necessary to complete all the necessary documentation to transfer them from one port to another, from a port to a Bonded warehouse, or to export them to their final destination. All documentation related to Bonded cargo services aims to provide the U.S. Customs and Border Protection (CBP) with information about the specific location of the goods at all times during transit.
There are three types of transport that can be declared on this form:
IT – Immediate Transportation / Type 61: Used when goods in storage are moved to another free zone or to a destination in storage located in a different port.
TE – Transportation and Exportation / Type 62: Used when goods in storage are moved from one port to another and then exported.
IE – Immediate Exportation / Type 63: Used when goods in storage are to be exported immediately.
The use of Form 7512 streamlines the Bonded goods management process. This form allows for electronic transmission of information, simplifying the documentation needed for the smooth movement of goods between different points.
In summary, Bonded goods emerge as a valuable tool for optimizing international logistics, providing companies with the flexibility and efficiency needed to compete in a globalized market. At our international logistics company, we take pride in offering innovative solutions that maximize the efficiency of our clients’ supply chains. If you’re looking to enhance your international logistics, Bonded goods could be the key to taking your operation to the next level. Contact us today to explore how we can help you achieve your goals more efficiently and cost-effectively!
Melissa Ospina
Erika Arias
In Motion Logistics, LLC