Depending on the commodity, the value of the cargo, and the potential regulatory requirements from a myriad of government agencies (USDA, DOT, EPA, and CPSC to name a few), your bond type (think price and coverage) will vary.

A Customs bond acts as the security to U.S. Customs and Border Protection (CBP) ensuring that the importer:

  • Complies with all laws regulating the commodity
  • Acts as a guarantee for payment of duties, taxes, and fees

The Activity Code 1 “Continuous” Import Bond is the most common bond type and includes $50,000 coverage for a 12-month period.

HOWEVER…

What is a Customs Bond?If your import product entry is subject to any of the following, bond providers may request additional information to support alternative bond type underwriting requirements:

  • Antidumping and/or countervailing duties
  • Commodities that require FDA compliance
  • Past history of claims for that particular commodity
  • A foreign importer of record
  • Bond amount is above the minimum ($50,000)

Not sure what Customs bond you’ll need?  Contact Us.

Our helpful team of eCommerce specialists will guide you to the right Customs bond for your business.

Contact Us       Get a Customs Bond

 

Intellectual Property What?

Intellectual property rights infringement is a high-risk, priority trade issue in the eyes of CBP.

It's no wonder that, in 2016, the number of IPR seizures increased over 9 percent to 31,560 from 28,865 in 2015.

Don't head into troubled, unknown waters.

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