Customs and excise bonds are required by U.S. Customs and Border Protection (CBP) and other federal agencies as a condition of importing, exporting, operating a bonded warehouse, or manufacturing regulated commodities such as alcohol, tobacco, or fuel. These bonds guarantee payment of duties and taxes and compliance with customs regulations.
A missing or lapsed customs bond prevents cargo from being released. For importers and logistics companies operating on tight schedules, customs bond compliance is not optional; it is the price of doing business in international trade.
The most common customs bond is for importers who bring goods into the U.S. regularly. Covers all imports for 12 months. Bond amount is the greater of $50,000 or 10% of duties, taxes, and fees paid in the prior year. Renewable annually.
Used for one-time or occasional imports. The bond amount equals the total value of the shipment, plus duties and taxes. Less cost-effective than a continuous bond for regular importers.
Required for ocean cargo shipments to the U.S. under the 10+2 rule. The ISF bond guarantees the timely and accurate filing of advance cargo information to CBP. Issued as a single-entry or continuous bond.
Required for operators of CBP-licensed bonded warehouses where imported goods are stored before duties are paid. Bond amount is based on warehouse capacity and throughput
Required for importers seeking a refund (drawback) of duties paid on imported goods that are subsequently exported or destroyed.
Required for manufacturers and distributors of alcohol, tobacco, firearms, and fuel to guarantee payment of federal excise taxes to the IRS and TTB.
As a construction professional or contractor, your work exposes you to a myriad of risks and liabilities on a daily basis.
Bonding capacity is a critical factor for contractors, project managers, and construction firms. It determines the amount of work a contractor can take on and ensures financial stability in project completion.
Bonding capacity is a critical factor for contractors, project managers, and construction firms. It determines the amount of work a contractor can take on and ensures financial stability in project completion.
A customs bond is required by CBP as a condition of importing goods into the United States. It guarantees payment of duties and taxes and compliance with customs regulations.
If you import more than once or twice per year, a continuous import bond is almost always more economical. Single-entry bonds are cost-effective only for very infrequent importers.
An ISF bond guarantees the timely submission of the Importer Security Filing (10+2) to CBP for ocean cargo shipments. It is required for importers who have not already filed a continuous bond covering ISF obligations.
Customs brokers can file on your behalf, but the bond must be in your company’s name as the importer of record. We issue directly to importers and work with customs brokers on their own bonding requirements.
