Bonds are required by HM Customs and Excise to secure indemnities against loss through fraudulent or improper dealing with dutiable goods. The principal bonds include: 1. VAT/Duty Deferment Bond. Required from companies who import goods into the UK that are subject to VAT. The bond enables the company to defer payment of VAT or duty to the 15th day of the following month. 2. Warehouse bonds. Dutiable goods are held in bonded warehouses before they are required for sale and, provided they remain in the warehouse, duty is notpayable. When they leave the warehouse duty becomes payable and the bond secures HMCE against loss due to default.