A customs bond is a three-party contract between the importer, a surety company and U.S. Customs and Border Protection (CBP). It guarantees that the duties, taxes, fees and any penalties connected with an import will be paid, and that the importer will follow customs rules. Most commercial imports into the United States need a bond, and it must be in place before cargo can be released.
A single-transaction bond covers one shipment, so it suits occasional importers. A continuous bond covers all of your entries at all U.S. ports for one year and renews annually, which is usually more economical if you import regularly. Its amount is generally based on the duties and fees you pay in a year, subject to a minimum set by CBP.
For informational purposes only; not legal advice. Import rules, duties and fees change. Please contact us for detailed information about your situation.