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A Customs Bond is a financial guarantee between 3 parties, the surety, the principal, and CBP (Customs and Border Protection) that allows the CBP to make a claim against the customs bond if the Principal fails to pay the correct amount of money for duties and taxes based on the import transaction. Importers are required to have a customs bond for the importing of any commercial goods that are valued over $2,500 and are transported by air or ocean.
At The Surety Place, we understand that new tariffs and import requirements have dramatically increased requirements for customs bonds. New and increased tariffs mean that importers may need larger customs bonds than ever before. However, no matter what type or size of customs bond you need, or where you are located in the US, we can service your bonding needs. If you are an importer or a customs broker in need of a new customs bond, The Surety Place is here to help.
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A: This type of customs bond is required when importing goods into the US and will cover all import shipments for 12 months. Typically, the continuous bond is 10% of duties, taxes, and fees.
A: The Surety Place is known for producing bonds faster than most other surety agencies. Call today to ask about your specific customs bond need so we can give you an accurate time frame.
A: Yes. US customs regulations require that when an entry of imported goods is made by the broker requesting the bond, a Power of Attorney is needed.
A: The cost of customs bond will range based on the taxes, fees, and duties of your import, along with your personal credit history and whether or not you choose to apply for a multi-year payment option for your bond.
A: A customs bond is required when someone is importing any merchandise into the US for commercial purposed that is over $2,500.
The Surety Place was founded in 2002 and we had one goal in mind, to bring innovation and a high level of service the industry had yet to see. We have been an industry leader from the start; a people first surety bond partner that you can trust, offering access to agents and businesses to achieve the right solution at the right time.
What sets us apart from other sureties is that we establish a relationship with you in order to truly understand your business focus whether large or small, complicated or difficult. Your needs as a business owner will be heard, and solutions will be found and implemented. As one of the only true specialists within the industry, we supply access, partnerships, and specialty programs with numerous “A” rated sureties across the nation. We are here to help you service all your customs bond needs with no appointments or contracts necessary.
Our industry knowledge and expertise coupled with our ever-increasing specialty programs, give us the unique ability to write your bonds when no one else can. When you put your trust into us, we promise to never let you or your business down.
We set our standards high, which means we provide our clients with nothing but the best team. Our dedicated account managers are highly trained underwriters able to provide our agents and clients with a tailored bonding solution for their individual or corporate needs. No matter the size of the bond or how complicated, Surety Place is built to find an answer. Poor credit, financial hardship, fast growth, or just getting your company off the ground? We have options for you too.