A Customs bond is a guarantee that all customs duties, customs penalties, and other charges assessed by U.S. Customs will be properly paid, in the event that the importer fails to make such payments. To protect the revenue of the United States, and to guarantee compliance with any law, regulation or instruction, importers are required to post security. Most importers prefer to post a surety bond. Continuous bonds are issued to cover all of the importations of an importer for a period of one year. The amount of the bond required to be secured by the importer is usually equal to 10 percent of the total customs duties paid for the previous years, or a reasonable estimate for the current year, but not less than $50,000.
ClearPoint International offers a variety of surety bonds from an A- (excellent) rated carrier. All bonds are available at a variety of limits with minimal underwriting information required with the most competitive rates in the industry.
The same surety offers Single Transaction Bonds for importers who prefer securing a bond for each entry transaction.