.WHAT TYPES OF CUSTOMS BONDS ARE THERE?

  1. Single Entry Bond
    Covers the one time entry of imported goods
  2. Continuous Bond
    Covers the import of goods for a year

All types of customs bonds protect the U.S. government in the event the importer does not fulfill financial obligations such as duty taxes and monetary penalties.

.Continuous Versus Single Entry Import Customs Bonds

The type of customs bond you select will depend on how many times you plan to import goods. 

A continuous bond will cover all the shipments you import during a one year period. A single entry customs bond will only cover a single shipment of imported goods into the U.S. You might choose a continuous bond to get the most out of your purchase.
Continuous Versus Single Entry Import Customs Bonds
With so many stipulations for a single entry bond, many importers find a simpler continuous import customs bond is best for their business.
Select the Customs Bond Type That Works For You

.A Single Entry Bond Can Vary in Price

The value of the bond you need can vary too. At minimum, a single entry bond should be worth the value of the goods you are importing, plus any applicable duties, fees and taxes. If your imports are regulated by another federal agency, you’ll need to get a bond worth 3 times the value of the goods imported.This means that if you are importing $8,000 in toys regulated by the Consumer Product Safety Commission, you’ll need a bond worth at least $24,000. 

Are you shipping your imports by sea and using a single entry bond? You’ll be required to obtain additional bond coverage to meet International Security Filing (ISF) regulations if you are shipping goods by sea.

.A Continuous Bond Renews Annually

You must purchase at least $50,000 in coverage when getting a continuous customs bond. It’s important to know that a continuous customs bond will cover ISF rules when shipping goods by seas. Continuous bonds cover all transactions within that year. You can use continuous custom bonds at any port of entry.

With so many stipulations for a single entry bond, many importers find a simpler continuous import customs bond is best for their business.

.Which Type of Customs Bond Works For You?

Which Type of Customs Bond Works For You

Single Entry Bond Definition

A single entry bond is for importers that import a single shipment for a specific port of entry. This type of customs bond work well if you only import goods that have a low cost value occasionally. This option is ideal for companies that typically import less than four shipments into the U.S. per year.

Continuous Bond Definition

A continuous bond covers all of an importer’s shipments with international carriers at all US ports of entry for an entire year. A US customs continuous bond is important for importers and shippers with a large number of entries that use several ports of entry annually. This type of customs bond also handles shipments with high value.

.Utilize a Customs Broker for Customs Bonds

The import customs clearance process can be difficult to master entirely on your own. A licensed customs broker with AFC International ensures your customs bond types are filled out properly and your imports are cleared through U.S. Customs quickly.

Connect with a customs broker that has the knowledge necessary to handle your imports and ease your mind during the customs clearance process.
Utilize a Customs Broker for Customs Bonds

Learn More About Customs Bonds

WHAT IS A CUSTOMS BOND?
HANDLING Customs Bond CLAIMS