What is a Customs Clearance Bond?

customs clearance bond
It’s always best to do your research and talk to a customs bond professional in order to find the right broker and bond for your business.

If your business imports goods into the U.S. that has a financial of over $2,500 then you are required by the CBP (U.S. Customs and Border Protection) to post a customs clearance bond. The purpose of this bond is to ensure that all of the fees, taxes and duties that are owed to the federal government end up getting paid.
There are a number of different scenarios where a customs clearance bond is necessary. For instance, if you are an international carrier and you frequently transport goods from foreign countries to U.S. soil, you’ll need one. Even if you are a domestic carrier that just wants to move imported cargo from state to state “in bond”, you’ll need a customs bond. If you operate a facility and you want to be able to secure and store cargo that has been imported or exported, then you’ll also need to get a customs bond.

Typically, a customs clearance bond can be acquired through a surety that has already been licensed by the Treasury. You should take note that some brokers will not give you a bond unless you also give them power of attorney to file entries. It’s always best to do your research and talk to a customs bond professional in order to find the right broker and bond for your business.