Bonded delivery of futures refers to a business model in which, after a futures contract expires, the buyer and seller conduct physical delivery of bonded goods as the underlying assets within a special customs supervision area (such as a bonded zone or bonded logistics park). Its core feature is that the goods remain in bonded status at the time of delivery, with import tariffs and value-added tax temporarily unpaid, and taxation procedures are handled only when the goods actually leave the country or enter domestic sales. This model is mainly applied to futures trading of bulk commodities (such as crude oil, copper, natural rubber, etc.), making it easier for enterprises to leverage the warehousing and logistics advantages of bonded zones and reduce capital occupation and delivery costs. Use cases include: bonded delivery warehouses of international futures exchanges, and enterprises conducting transit trade or deferring tax payment through bonded zones. Precautions: customs supervision requirements must be met, the delivered goods must be bonded goods, and if the goods are sold domestically after delivery, taxes must be paid retroactively; compared with general trade delivery, bonded delivery can ease corporate cash flow pressure, but attention must be paid to exchange rate fluctuations and warehousing costs. Difference: general trade delivery requires immediate customs declaration and tax payment, while bonded delivery defers tax payment; unlike 'bonded zone warehousing,' bonded delivery is the performance act of a specific futures contract.
📝 Examples
1. After the crude oil futures contract our company bought on the Shanghai International Energy Exchange expired, we completed bonded delivery through the Yangshan Bonded Port Area, temporarily did not pay import-stage taxes, and will handle departure procedures next month when the goods are re-exported to South Korea. (Note: Use bonded delivery to defer tax payment for transit trade.)
2. Because the customer temporarily canceled the order, we delivered a batch of bonded copper futures in the bonded logistics park, avoiding the high value-added tax incurred by immediate customs declaration for domestic sale. (Note: Bonded delivery helps enterprises respond to sudden transaction changes and reduce tax costs.)
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