A Customs bond is a legal contract between a principal (importer or shipper), a Surety company, and CBP that guarantees the importer complies with Customs regulations and that CBP is paid for applicable import duties, taxes, fines and penalties.
The company issuing the bond is the known as the surety.
The average cost for a continuous customs bond when purchased from a broker is $400-$500 per year or more.
The easiest way to get a bond is often through your customs broker or international freight forwarder, who can take care of all the paperwork. If you're doing it on your own, you must purchase a bond from a surety licensed by the Treasury Department.
A single entry bond will be billed at $5.50 per 1000$ of the bond amount or $55.00 Minimum fee. Cost of the bond in this case would be $221.10. For shipments falling under the following categories, U.S.Customs requires that the bond amount equal three times the value of the cargo: Food and Drug Administration (FDA)
A single entry bond provides this guarantee for one single import transaction. The single entry bond amount must be equal to the entire value of the goods, plus the duties, fees, and taxes required on the important transaction. Single entry bonds can be written at a minimum value of $100.
A Continuous Customs Bond* is valid for one year, and allows goods to be imported into the United States in accordance with US Customs and Border Patrol (CBP) requirements.
The length of a bond filling period is primarily determined by CBP. Although this time varies, the common $50,000 Continuous Import Bonds typically require 15 calendar days to become active. Other types of Customs Bonds or bonds of different amounts could require more notice and take longer to put in place.
The $50,000 continuous import bond is the most common in the U.S. and requires up to 10 days to be put in place. The continuous import bond is a type of customs bond—a bond that guarantees the U.S. Customs & Border Protection (CBP) that the importer will make good on its payment.
Calculating Customs Bond Amounts
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