Customs Bond Service
Navigating the complexities of international trade often begins with securing the right documentation. A customs bond is one of the essential requirements for importing goods into the United States. We streamline this process, helping you quickly apply for a customs bond so you can start importing your products with ease.
What is a Customs Bond?
A customs bond ensures that the importer fulfills their obligations to U.S. Customs and Border Protection (CBP), including:
Paying import duties, taxes, and fees
Complying with all import regulations
There are two primary types of customs bonds:
Single Entry Bond: Covers one specific shipment. Ideal for businesses that import infrequently.
Continuous Bond: Covers all shipments over a 12-month period. Best suited for regular importers and provides a cost-effective solution.
Why is a Customs Bond Required?
If you are the importer of record (legally responsible for bringing goods into the U.S.), a customs bond is mandatory. Here’s why:
Ensures Payment of Duties and Taxes: The bond guarantees CBP receives all applicable duties and fees for your imports.
Compliance with Regulations: It ensures adherence to U.S. import regulations, such as product labeling, safety standards, and restrictions.
Government Protection: The bond safeguards the U.S. government by covering unpaid duties or penalties if the importer defaults on their obligations.
When Do You Need a Customs Bond?
A customs bond is required in several scenarios, including:
Goods Subject to Import Duties and Taxes: If your shipment requires customs clearance, a bond is necessary.
Commercial Goods: Businesses importing commercial products must secure a bond for compliance.
High-Value Shipments: For goods valued over $2,500 or formal entry types, a bond is required.
Specific Trade Terms: If you are importing under Incoterms such as Ex Works (EXW) or Free On Board (FOB) terms, for example, where you act as the importer of record, you are responsible for obtaining the bond. Not sure what Incoterms you are using? Check out our free Incoterms Training.
How to Obtain a Customs Bond
Obtaining a customs bond is a straightforward process when you follow these steps:
Choose the Right Bond Type: Determine whether you need a single entry bond for occasional shipments or a continuous bond for regular imports.
Work with a Surety Company: Customs bonds are issued by surety companies, which guarantee the bond on your behalf. You can often secure one through customs brokers or insurance providers.
Complete the Application: Provide essential business details, such as your Importer Number, which you receive when registering as an importer.
Obtain a Customs Bond with Supply Chain Shark Today
We simplify the customs bond process for you. Easily upload your business details, and our team will handle the rest—ensuring you have the bond you need to begin importing into the United States.
Monitoring and Renewal
Once your customs bond is in place, it’s essential to monitor its sufficiency and ensure timely renewal. We’ll help you stay compliant by keeping track of your bond’s status and guiding you through the renewal process.
Start Importing with Confidence
Don’t let paperwork and regulations delay your importing plans. Secure your customs bond today and open the door to seamless trade operations in the U.S.
Service bookings are available to Shark Essentials users on the Supply Chain Shark Client Portal.