What importers should know about Customs bonds (also known as entry bonds):
What is a Customs bond?
A Customs Bond is an insurance policy that guarantees payment to U.S. Customs and Border Protection of all duties, taxes and fees due on an import shipment.
Do I need a Customs bond?
All import entries valued at $2500 or more must be accompanied by a bond that sufficiently covers potential duties, taxes, and fees that may accrue.
Types of Customs bonds
There are two main types of Customs bonds:
Single Entry Bond
A Single-Entry Bond only covers one entry and the amount is determined by the value of the merchandise plus the duties, taxes, and other fees.
If you are importing an ocean shipment and you do not have a continuous bond on file, you are required to have an Importer Security Filing (ISF) bond filed regardless of the value.
A Continuous Bond (also known as an Annual Bond) is 10% of duties, taxes and fees paid to Customs in a 12-month period.
The minimum amount is $50,000. A Continuous Bond also fulfills an importer’s obligations to have an Importer Security Filing (ISF) bond on file.
Need to purchase a Customs Bond?
If you are interested in our Customs brokerage services (including entry bond services), please contact our team and we’ll be happy to discuss your shipments and give you a quote.
Our blog posts are for informational purposes only. While we use reasonable efforts to furnish accurate information, C J is not liable or responsible for the accuracy or reliability of any information contained herein.