Importing from China to the US: What is the Customs Bond Guide?
In the world of importing goods to the U.S., navigating customs regulations is crucial. One fundamental aspect is the customs bond, a legal agreement ensuring duties and fees are paid. Let’s unravel what this entails and how it impacts your importing process.
Understanding Customs Bonds
A customs bond acts as a guarantee to U.S. Customs and Border Protection (CBP) that all financial obligations related to an import shipment will be fulfilled. It’s mandatory for commercial imports exceeding $2,500, encompassing duty-free items as well. Commonly referred to as import bonds, customs entry bonds, or customs surety bonds, they’re essential for smooth import operations.
Types of Customs Bonds
- Single Entry Bonds: Ideal for one-off shipments at specific ports of entry, suited for occasional low-cost imports. The bond value should cover the goods’ value plus applicable duties, taxes, and fees.
- Continuous Customs Bonds: Covering all shipments at all U.S. ports for a year, suitable for frequent importers. They automatically renew and require a minimum coverage of $50,000.
Coverage and Requirements
A customs bond guarantees payment of fees owed to CBP, typically at least 10% of the total duties and fees. It covers duties, taxes, fines, and even International Security Filing (ISF) requirements for sea shipments.
If you need a larger bond amount, please refer to CBP’s calculation here.
When Do You Need a Customs Bond?
You’ll require a customs bond for:
– Commercial imports valued at $2,500 or more.
– Imports subject to regulations from U.S. government agencies, with bond value triple the shipment’s worth.
Cost of a Customs Bond
At USA Customs Clearance, a continuous bond costs $235*, providing $50,000 coverage for 12 months
How to Obtain a Customs Bond
Getting a customs bond is straightforward:
- Purchase your bond from a Licensed Customs Broker.
- Complete the online application.
- Receive same-day approval.
- Start importing within 2 days of CBP application activation.
Using a Licensed Customs Broker ensures a correct, complete, and secure bond application process, easing your import journey.
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