A Customs Bond is a contract between three parties (CBP, a principal, a surety) to ensure all the duties and fees associated with the shipment are paid to Customs. All entries must be covered by an import bond in order to make formal entry of merchandise into the United States.
The bond serves to secure potential duties, taxes, and fees owed to CBP and guarantee performance of all Customs regulations requirements – but it is not insurance. The bond is to be filed on CBP form 301 and is a contract between the importer and CBP that protects Customs’ interests.There are a number of surety companies who issue these bonds.
If you need assistance with Customs Bonds or have questions regarding the requirements, Abady Law Firm is here for you. We specialize in customs focused on international trade.
We will help you to navigate through all of the rules and laws that govern the importing of goods to and from foreign countries. Abady Law Firm helps people to navigate international regulations, predict the risk and minimize it beforehand.