CB1 BOND for DELIVERY of PERISHABLE or OTHER GOODS PRIOR to PAYMENT of DUTY DOC Tra Go Form
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People also ask
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What is a bond for shipping?
A customs bond is like an insurance policy that guarantees payment of all duties and fees related to a shipment. -
What is a customs bond charge for?
The customs import bond guarantees payment to U.S. Customs and Border Protection of all duties, taxes, and fees on imported goods entering U.S. commerce, as well as compliance with all applicable federal regulations. -
How much does a continuous customs bond cost?
A continuous bond is 10% of duties, taxes and fees paid for the 12 month period. Current bond formulas can be found on .CBP.gov. -
How long does a customs bond last?
The date of self-renewal is exactly one year after the effective date or the last renewal date. This date is call the “anniversary date.” If a continuous customs bond is no longer needed, needs to be replaced, or for some other reason the bond should no longer be in effect, a termination notice must be issued. -
Who is responsible for customs bond?
CBP requires all importers to file an Import Bond in order to clear their entries, even if the goods are duty-free. -
Why is a customs bond required?
Customs Bonds facilitate faster Customs clearance because they guarantee the CBP will be immediately paid if any additional import duties, taxes or fees need to be assessed. This allows the CBP to clear the shipment without having to wait for the Importer to submit payment. -
What does it mean to be US customs bonded?
What is a Customs Bond? A legal contract, usually issued through a licensed Customs broker, between an importer, a Surety company, and US Customs and Border Protection (CBP) that guarantees that the importer complies with Customs regulations.
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