Every importer should know what a US Customs bond is and how it effects their importing. The Customs surety bond is a financial guarantee between 3 parties. The bond guarantees CBP that if they cannot collect monies due from the Principal they can seek remedy, up to the bond amount, from the Insurance/Surety company.
This presentation by Trade Risk Guaranty (TRG) provides a background on the US Customs bond, insight on the different types of bonds and the difference between single entry and continuous Customs bonds. TRG also discusses the different ways importers obtain a bond and the most economical way to purchase a Customs Bond. Look for the next presentation by TRG, where you will learn about the Customs bond fees and how to purchase a bond directly from a surety agent.
Contact TRG for more information on the Customs surety bond. www.trgbond.com or 800-685-6082
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