Anytime you import goods into the United States
there are a ton of Documents and steps you need to take to ensure that your goods can clear customs and arrive safely at their final US destination
One of these required steps is obtaining a customs bond
A customs bond is required any time
you are importing goods to the US from a foreign country that have a commercial value in excess of
$2,500 but they are also required for any items that are subject to federal regulations
Which could include items like firearms
and certain types of foods or plants.
Let's talk a little bit about what a customs bond actually is
A customs bond essentially serves as a contract or agreement between an importer and customs.
The purpose of the bond is to ensure that specific obligations are met by the importer
such as payment of duties taxes and other charges.
Although there are a ton of different types on the market the two most common types of customs bonds are
single entry and continuous
A single-entry bond is exactly what it sounds like it only grants an importer customs clearance and compliance
for one shipment, so for any shipments after the one your bond covers,
you'll need to obtain an additional customs bond.
These are generally better for businesses that import the US on a rather
infrequent basis since the cost of the bonds will add up quickly if you are frequently moving goods into the country
A continuous bond is a bond
that is good for an entire year from its date of purchase and grants an importer access to import goods the United States however many
times they wish within that period
These are generally much better options for companies who import on a frequent basis as the cost savings are significantly better than
Repurchasing a single entry bond for each shipment.
At the end of the day, picking which bond is right for you pretty much boils down to how frequently you
import to the US.
If you are ever hesitant to make a decision, give us a call and we would be happy to help!