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Customs Bonds FAQ

Last updated on March 31st, 2020

A customs bond is a specific type of surety bond, three-party contracts used to guarantee specific obligations are met between the bond provider, the bond principle, and a third party called an obligee. In the case of a customs bond the parties are the surety company who provides the financial security for the bond, the importer who is the principal on the bond, and U.S. Customs who is the obligee. The purpose of the customs bond is to respond if the importer fails to meet their financial obligation to pay duties, taxes, and fees on an import into U.S. commerce. How do you know if you need a customs bond? And what are the different customs bond types?

If you plan to import commercial goods valued over $2500.00 into U.S. commerce, then you need a customs import bond. Customs import bonds come in two varieties, single entry bonds for making one time transactions, and continuous bonds which allow for multiple entries over the course of the term of the bond (one year with automatic “self-renewal” unless the bond is terminated).

There are additional types of customs bonds that can be used for purposes other than simple importation. These include: Foreign Trade Zone Bonds, Drawback Bonds, Custodian of Bonded Merchandise, and International Carrier Bonds among others.

Once you read through all of the customs bonds FAQs below, you might still have questions. Roanoke Trade is your resource for accurate customs bond information, no matter your specific circumstances. We encourage you to reach out for additional information about how we can better serve your unique needs.

Contact your local bond manager or call us at 1-800-ROANOKE for assistance.

Use our collection of customs bonds FAQs to get started.

1. How Do Import Bonds Work?

2. When Will a Customs Bond Renew?

3. Customs Bonds Explained

4. How Do I Apply for a US Customs Bond?

5. How are Customs Bonds Calculated?

6. What is a Single Entry Bond?

7. What is an ISF Bond?