According to the U.S. Customs and Border Protection, goods imported into the U.S. with a value of $2,5000 or more must have a Customs bond. One of your best options is to avoid uncertainty and go through an experienced customs broker who will prepare your goods with a customs bond.
If this is your first time importing goods, it can feel daunting. You might be wondering why you even need a customs bond. We’re here to help answer these questions and break everything down into easy to dissect information.
The purpose of a bond to ensure that the goods coming into the U.S. are insured, have met the customs duties set by the U.S. government, and that importer is not held responsible for any potential issues that could be extremely costly such as the business closing or failing to pay the duties or taxes. In general terms, as an importer, you don’t want to be the one left paying the interest or damaging costs when there is an issue.
There are eight basic conditions that as an importer you must meet when you post a customs bond. They are as follows:
Depending on the type of goods you’re importing, you’ll need to meet the requirements of that federal agency. Here are examples of the most common ones:
A customs bond is an integral part of the importing process. Failing to comply with regulations could result in extremely costly fines and delays in receiving your goods. As an importer, it is your responsibility to pay for duties and any taxes associated with shipments. We’ll help make the process as easy as possible while guaranteeing full compliance. Connect with us today to learn more.