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Import Bond Sufficiency Calculator

Last updated on September 6th, 2019

There are two types of customs bonds that guarantee the payment of import duties and taxes to the United States Customs and Border Patrol (CBP). A single-entry customs bond allows for a one-time import of merchandise for a commercial purpose into the United States. This customs bond can be an efficient and cost-effective tool for importers who import infrequently. For importers who are continuously bringing shipments to the United States, there is another option, the continuous import bond, which can be used to make an unlimited number of entries up to the total value of the bond.

 

What Are Import Bonds?

Customs import bonds are a specific type of surety bond, a contractual obligation made between three separate parties to guarantee payment of import duties and taxes. Import bonds act as a guarantee between the insurance or surety company that issues the bond, the importer of record, and Customs and Border Patrol (CBP) of the United States.

As the principal on the bond, the importer arranges coverage with the second party to the contract, the surety company – this transaction is usually handled by a licensed Customs Broker. In return, the surety company agrees to cover the costs of duties and taxes, if the principal fails in their obligation to pay. CBP accepts this guarantee on goods entering United States commerce.

Unlike single-entry import bonds, continuous import bonds apply to all shipments by the principle in a 12-month period. Wondering what amount of coverage your importing business needs through continuous import bonds? Roanoke Trade has a bond sufficiency calculate right here.

 

Calculate the Cost of Your Import Bonds

Use this tool to calculate a sufficient amount for your continuous CBP import bond (form 301).

Here’s how:

  1. Review the total duties (including ADD/CVD duties), taxes & fees you’ve paid in the last 12 months
  2. Project the anticipated duties (including ADD/CVD duties), taxes and fees you expect to pay in the next 12 months.
  3. Input whichever amount is greater in the fields below to see the estimated bond amount.

Bond Calculator

Understanding CBP’s Bond Amount Calculations

FastBondTM users may click here  to issue a new bond or replace a bond on file.

To become a FastBondTM user, customs brokers may call 1-800-762-6653 to speak with one of our bond service representatives.

The Customs Bond Sufficiency Calculator is a reference tool to help you determine the proper amount of your Continuous CBP import bond. It is for demonstration purposes only and any activity on this page does not constitute compliance with CBP demands or issuance of a bond. We strongly encourage you to collaborate with your customs broker when determining the amount of bond needed to avoid interruption to the importer’s business.