Continuous Bonds for USA Frequent Importers
Continuous Transaction Bond-is a self-renewing term Importer Entry Bond, which covers all Customs transactions through all ports of the country. The bond amount for a continuous bond is determined by taking multiples of $10,000 nearest 10% of duties, taxes and fees paid by an importer during the last calendar year. The minimum continuous bond amount is $50,000. This customs bond is valid until it is terminated by the principal or the surety.
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Temporary Import Bond (TIB)
Allows goods to enter the U.S. temporarily (trade shows, samples, equipment for use) without paying duties.
Continuous Bond (Annual)
The most common option for regular importers. Covers all CBP entries (across all ports) for a 12-month period. Minimum amount: $50,000
Single Entry Bonds
Covers one specific shipment entry. The bond amount must equal 3x the total duties, taxes, and fees for that shipment (minimum $100).
What is a Surety Bond?
U.S. Customs and Border Protection requires that an importer purchase a surety bond to ensure it will pay the required duties and taxes when importing an item. A bond is like an insurance policy that guarantees payment to U.S. Customs and Border Protection (CBP) if a required act is not performed. Surety bonds can be purchased through Scarbrough, regardless if we clear the goods or not.
Bonds have a number of uses in CBP. The most common use allows importers to take possession of their goods before all CBP formalities are completed. Another common use allows a carrier to move goods under bond from one place to another before those goods are actually entered for consumption with duties paid.
Customs Clearance Services for USA Imports
Duty Drawback
Freight Solutions
Freightclear is a licensed U.S. Customs Broker
Freightclear, acting as your customs broker, enhances the free flow of imported goods though US sea ports and airports. We offer seamless customs clearance and delivery of all shipments en route to the USA while keeping your business in compliance with U.S. Customs. Our customs and import pro’s are on call to guide you through the importation process to the United States. Spend more time selling your products and less time worrying about logistics. Freightclear customs brokerage services and workflows are all the help you need.
