Purchase Continuous Import Bonds at the Best Ratesby Samuel C. Customs Advisor
Anytime you import goods into the United States there are tones of documents and steps you need to take to ensure that your goods can clear customs and arrive safely on their US final destination. One of these required steps is Customs Bonds.
A customs bond is required anytime you’re importing goods to the US from a foreign country that has commercial value in excess of $2500. But they are also required for any items that fall under federal regulations which could include items like firearms, explosives, hazardous materials, animals, and certain types of foods and plants. A continuous import bond is a type of bond that you can bring for multiple entries.
A continuous customs bond essentially serves as a contract or agreement between three parties – the importer, customs, and insurance company/broker. The purpose of the bond is to ensure a set of specific obligations are met by the importer such as payment of duties, taxes, and other charges. There are two most common types of customs bond – Single Entry and Continuous Import Bond.
A single entry bond is exactly what it sounds like. It only grants an import customs clearance in compliance for one shipment. For any shipment after your bond coverage, you need to obtain an additional customs bond. These are generally better for businesses that import to the US on a rather infrequent basis since the costs of the bond were out of quickly if you’re frequently importing merchandise into the country.
A continuous customs bond grants you permission to import for a full year after its date of purchase and grants importer access to import to the US any number of times they wish within that period. These are generally a much better option for companies that import goods on a frequent basis. It saves them a significant amount of money than re-purchasing a single entry bond for each shipment.
Purchase Continuous Import Bond
Looking for a reliable insurance agency that deals in customs bond? Look no further than CBI Customs & Insurance Incorporation that has been providing trade-related services since 1981. We carry extensive experience in customs brokerage and international freight forwarding operations. We provide continuous import bonds at the most competitive rates in the market.
Created on Mar 31st 2020 05:45. Viewed 184 times.