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Accounting E

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Entrepot trade Picture: Theran Times

Entrepot trade

This concerns the reexporting of imported goods. The goods may be sold directly from bonded warehouses. If they are not, and duty has been paid, the re-exporter may be entitled to a refund of the duty. This is known as drawback. Drawback may also be payable where the re-exports contain imported goods where the re-exports contain imported goods only in part. Entitlement to claim is given by a Customs’ debenture.

Reference: The Penguin Business Dictionary, 3rd edt.