Customs Bond info
Top : Import FAQ's : CD Faq's
| Article ID: |
 |
000002 |
| Rating: |
|
5.0 / 5.0 (9 votes)
|
| Views: |
|
2648 |
|
|
When is a Customs bond usually required?
|
If you are importing merchandise into the U.S. for commercial purposes that are either, valued over $2,000, a commodity subject to other Federal agencies requirements (i.e. firearms or food), or goods subject to quota/visa restrictions (i.e. textiles), you must post a Customs bond to ensure that all duties, taxes and fees owed to the federal government will be paid.
If you use a Customs Broker to clear your goods through customs, the broker's bond may be used to secure your transaction. You have the option of obtaining a single entry or continuous bond. The type of bond you elect to obtain ultimately depends on how often you import into the U.S. For instance, if you only import on occasion, the single entry bond is recommended. If you import frequently and through various ports of entry, the continuous bond is beneficial and economically the best choice.
If you are an international carrier and you transport cargo or passengers via air, vessel or vehicle from a foreign destination to the United States or a domestic carrier that merely wants to transport imported cargo "IN BOND" from one state to another, you will also have to obtain a Customs bond.
If you are a warehouse or facility operator and want to become a Customs bonded facility with the ability to store or secure imported or exported goods, you must obtain a Customs bond. In addition, you must apply with the port director and determine the type of warehouse you wish to establish. Additional information on how to become a bonded warehouse is available on this web site.
If you want to perform some activity in a secure customs area, i.e. cartage, or serve as a Customs Broker or as an approved gauger or laboratory, you must obtain a Customs Bond.
|
