Warehouse

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Updated: Aug 20, 2021

Generally speaking, a place where goods are stored prior to their being sold or used. The word is more restricted in shipping terminology, where it means a public warehouse where goods are stored on being landed from a ship. These warehouses are often responsible for sorting, examining and delivering goods as well as storing them. The goods may be for home consumption or re-export. Some warehouses are bonded warehouses, where duty, need not be paid on the goods until they are actually removed from the warehouse. Goods are released on production of a warehouse keeper’s order issued by the Customs.

Reference: The Penguin Business Dictionary, 3rd edt.



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James Knight
Editor of Education
James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.