Description: Customs Surety Bonds - Highly Competitive Bond Rates for importers in all US ports
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Customs surety bonds guarantee that specific obligations will be fulfilled by the importer. This includes payment of duties, taxes and other charges, as well as compliance with U.S. Law and regulations governing entry of merchandise into the United States. There are three parties to a Customs bond: the principal, the surety and the beneficiary. U.S. Customs & Border Protection is always the beneficiary. All commercial importers are required to post a surety bond or its cash equivalent with U.S. Customs & Bo
Continuous Transaction Bond: If your firm has multiple shipments over the course of the year, it is likely more economical for you to apply for a continuous transaction bond. Term is one year and it is automatically renewed. For importers, the minimum continuous bond amount is $50,000 or 10 percent of the estimated duties, taxes and fees paid over the past 12 months or 10% of the duties, taxes and fees reasonably estimated to be paid in the next 12-month period, whichever is greater. Effective January 26, 2
If no Continuous Bond is on file, Importers obtain a Single Entry Bond for each Customs entry. It covers only the entry or transaction for which it was written and is generally at least the value of the goods plus all duties, taxes, and fees. Bond amounts are subject to port practice; some port directors have set the bond amount for some commodities at triple the value of the goods, as well as triple value of all duties, taxes and all other charges. Without a continuous bond on file with Customs, entries th