Custom Bonds

The US Customs Service requires importers to post a bond that guarantees they will pay liquidated damages that might be assessed against them as a result of their importing shipments into the United States.  There are two types of Customs Bonds:

  1. Single Entry bond – this bond covers a single import transaction.
  2. Continuous bond – this bond covers all transactions made by an importer throughout a given year.  Minimum bond amount is $50,000.00.

Regulating Department Contact:

US Customers Service
1300 Pennsylvania Avenue NW
Room 5.2C
Washington, DC 20229
(202) 344-2580

Statutes:

Title 19 USC, Section 1623

Underwriting Requirements:

  1. Customs Bond applications
  2. Business financial statement
  3. Personal financial statement of each owner
  4. Sometimes collateral may be required
Site Map ~ © 2006-2008 Associated Bonding