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U.S. Customs Surety Bond Over $50,000
Click Here To Print The ApplicationU.S. Customs Bond (over $50,000)
U.S. importers
must have a Customs Bond
(CB) to ship products from foreign countries to the United States.
Mandated by U.S. Customs and Border Protection (CBP), this bond
guarantees payment in the event that liquidated damages are assessed
against shipments imported by you or your company. In other words,
the bond protects the U.S. government in case you, the importer,
cannot or will not pay monies due.
There are two basic types of Customs Bonds:
Single Transaction Bond
Also referred to as Single Entry Bond or SEB, this bond covers a single import transaction at one port of entry. The SEB amount is determined by the total value of the imported cargo and the type of commodity being imported.
Continuous Bond (CB)
Covers all entries made by an importer at any port of entry. The most common surety amount for a CB is $50,000, which is lowest amount recommended by the CBP.
Other names for this bond:
Import Bond
U.S. Import Bond
Activity Code 1 Bond
Import License Bond
Consignee Bond
Yearly Bond or Annual Bond
CBP Import Bond
Importer Number
Importer ID
Import Entry Bond (IEB)
Note: The Customs Bond only covers U.S .Customs duties and taxes as well as ISF penalties. It does not protect the value of the imported cargo.
There is some additional information required on customs apps. Please note that we will also need you SCAC code, the effective date of your bond, a copy of the $50 check written to U.S. Customs along with a copy of the approval letter from U.S. Customs issued to you.
Due to the high risk of loss in the importing industry, the application for a Customs Bond requires more information than for other bonds. Keep in mind that, when applying for the first time or when processing a yearly renewal, it is wise to begin as soon as possible. Failure to obtain a new bond or renew an existing bond on time can result in fines and/or lost business.
Don't wait until the last minute – complete the application today!
Click Here To Print The Application

