How to Obtain Customs Surety Bond to Initiate Trading In the US?

by Samuel C. Customs Advisor

The time when you assume to initiate trading in the United States, the US importing policies starts haunting you. It is obvious to the world that the superpower country holds more than 20 per cent of total income around the globe. India and China are great economies and transportation is the main reason for the alluring growth. Still, the US has not a great population that can fuel business to grow nationally. International traders always eyes to take the opportunity of doing online business. The importation of goods into the US via ocean vessels is highly regulated. A customs surety bond is the medium to carry forward a shipment with safety and appropriately.

Customs Surety Bond

The customs surety bond also referred to as continuous customs bond is a broad term but not that implicit to frighten a frequent importer. If you are planning to export commodities in the US, you will require customs bonds to clear security operated by Customs Border Protection (CBP) at different locations. Custom brokers often call it 301 customs bond because it is the number of a specific form.

When the commercial value of a shipment overlaps the base price $2500 then it becomes mandatory to possess these bonds worth $10k.It guarantees a few obligations that all fees, duties, and taxes will be paid and the property is not hazardous and doesn’t belong to a prohibited category. The transaction happens between principal and CBP with the help of third-party organizations that can be honed insurance agency.

How to Obtain Customs Surety Bond?

The customs surety bond acts much as a license that required by official authorities of the US. A responsible importer always remembers about ISF bond filling which should be done 24 hours prior to actual execution of importation. There can be a burden of compliances and it becomes hard to arrange documents alone. One can obtain continuous customs bond from customs brokers who are experienced in this niche. It is only for those who wish to do more than one import in a year.

301 customs bond can be possessed through CBP Form section-1. Normally the prices of it range between $250 and $500. The calculation of prices can be complicated and is the work of experts.

Some reputed companies are dedicated to making an innovative approach towards making the procedure as easy as possible. It pertains the roles of software and technology which dynamically fills important forms. To get it minimum rates you can contact a firm which is well-known and managed a good online reputation.