A customs bond is a binding contract required by CBP for commercial imports valued at $2,500 or more. Import shipments that contain goods regulated by PGA's (Partner Government Agencies) must also be covered under a customs bond. The importer, CBP, and the surety company that provides the bond are the three parties accounted for in the terms of the agreement.
There are a number of situations in which you must utilize an import bond. These situations include:
If the merchandise is subject to government agency rules and regulations, the bond amount must be equal to three times the value.