A customs bond is a guarantee to the US government that the importer will faithfully follow all laws and regulations governing the importation of merchandise into the United States. This includes the surety company guaranteeing payment of any duty, tax or charge on the imported items.
There are three types of customs bonds; the continuous customs bonds offer the most coverage because they last for the entire year the bond is effective. This bond must be renewed annually if the importer will be bringing goods into the United States for more than one year.
A continuous customs bond is for $50,000, which is considered the penal sum of the bond. The continuous customs bond also covers transactions at any US Customs district or port within that year of coverage. It is important to understand that a customs bond does not protect the importer; it guarantees the US Government that all import taxes, duties and fees will be paid and all regulations will be properly followed by the importer.
These bonds can be expensive and cost as much as $800 per year which can be a large financial burden on importers. We understand the demand for these bonds and can offer a very competitive rate, starting at $349 for a $50,000 continuous customs bond. Start by learning more about our customs bonds.