About Customs Bonds
Import shipments valued at $2500 or more require a customs bond. This bond guarantees that government regulations will be followed and all duties, fees and penalties will be paid in full on the freight. There are two different types of customs bonds available for purchase through a customs broker.
Single Transaction Bond - Good for one import shipment. Imports with a single transaction bond are not authorized for electronic release as they are considered less secure.
Continuous Bond - Obtained before import shipments arrive, it can be be used for multiple shipments at any port within the U.S. for one full year. It is assigned to an importer which can be used with multiple customs brokers.
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Did You Know?
Freight can be imported into the United States and stored in a customs bonded warehouse to defer the duty until the cargo is needed.
Transportation companies handling imported freight are required by law to have a bond themselves.
There are other special bonds such as Importer Security Filing and Temporary Import Bonds. Ask your customs broker which bond is right for you.
DISCOUNT CUSTOMS BONDS
Importers will often find a cheap continuous bond online instead of purchasing one through a customs broker. Using reputable companies throughout the process of importing cargo can reduce shipping problems and delays.
So how does an importer buy a discounted customs bond from an actual customs broker that is reputable?
DISCOUNTED CUSTOMS BONDS FROM A CUSTOMS BROKER
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Want to make sure that your imported freight is covered in the event of an accident while in transit to the US? Purchasing additional cargo insurance is an option that a customs broker can offer to protect importers from financial loss due to damaged freight.