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A CBP (Customs & Border Protection) bond is a contract. Its purpose is to act as an insurance policy guaranteeing payment to CBP if the importer does not abide by the rules and regulations or if a required act is not completed. A bond is not intended to protect the importer.

Importers should think of Customs bonds the same way they would any other underlying business service they utilize. Customs bonds protect against contingent liability that comes at high costs. You want to know that when things go wrong you’ll be protected and your insurance partner will be there to stand behind you.

If Liberty writes your bond we will stand behind it and service it in a way our clients have come to expect. We’ll monitor the bond’s status and let you know immediately if there are any issues. For example, CBP may sometimes change the bond amount. If your bond is not kept updated, your importing privileges and the speed of your releases may be significantly impacted.

Importers understand that their Customs bond is too important to leave in the hands of someone they do not know. As you near your bond renewal date, Liberty would be happy to review and write your bond for you. Please contact your Liberty representative for more information.

What is a bond?

A CBP (Customs & Border Protection) bond is a contract. Its purpose is to act as an insurance policy guaranteeing payment to CBP if the importer does not abide by the rules and regulations or if a required act is not completed. A bond is not intended to protect the importer.

A Customs bond is a guarantee from a surety company to the United States government that the importer will abide by all laws and regulations governing the importation of merchandise into the United States. Any corporation, company or individual who wishes to import goods into the U.S. is required to post a bond or its cash equivalent. A bond is not designed or intended to protect the importer. The purpose of a bond is to guarantee that all Customs duties, Customs penalties, and other charges assessed by U.S. Customs will be paid correctly and that all trade procedures will be followed. There are 2 types of bonds:

A Single Entry Bond is used per shipment and is good for only 1 entry. The value of this type of bond is set by the port director but is generally not less than the total entered value plus all duties, taxes and fees. If the goods are subject to the requirements of other government agencies the bond amount would be not less than 3 times the total entered value of the merchandise.

A Continuous Bond is generally obtained by importers who have more than 1 or 2 entries and ISF’s per year. Liberty International can estimate the amount of the bond, but ultimately the Revenue Division of CBP's National Finance Center sets the amount of each bond. The minimum bond amount for a continuous bond is the greater of either $50,000.00 or 10% of the total amount of duties, taxes and fees paid to CBP in the previous 12 month period.

What does a Customs Bond do?

Liberty’s Customs bond partner is Roanoke Trade. Roanoke Trade was established in 1935. In May, 1998, the U.S. operations of Trade Insurance Services were merged with Roanoke Brokerage Services, forming the largest U.S. insurance brokerage operation specializing in customs bonds and cargo insurance for the international trade community. Roanoke Trade was first in the United States to serve the bonding needs of customs brokers and their clients and remains a focused advocate to the U.S importer, tailoring insurance protection and surety products to accommodate industry changes whether dictated by regulation or exposures to financial requirements. Roanoke is very active in the industry allowing them to keep abreast of constantly changing CBP regulations.

Click here to contact us for more information about filing your bond.

Click here to open the Customs bond application forms.

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