A bonded warehouse holds imported goods under customs supervision before duty is paid, letting businesses defer the customs event until the goods actually enter home use. The facility is licensed under the customs rules, and the covered operation can be the warehouse itself, an industrial unit storing its own raw material, or a trading firm staging duty-sensitive stock. The mechanism is a controlled postponement. Goods enter without duty, move through the electronic stock record, and duty crystallises only on quantities formally cleared for home consumption. Quantities re-exported, or processed and then exported, never attract duty. What makes the system attractive is the cash-flow mathematics of keeping duty off working capital while stock sits. The discipline is the bond and its records: every movement must be declared, because the department tracks physical balances and examines the stock register on site. Firms that run the warehouse as an extension of their inventory enjoy the deferral, while those that let stock slip off the register discover bonded goods are only counted elsewhere.