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What Is A Customs Bond?

customs bond

What is a Customs Bond?


A Customs Bond is an agreement that ensures that any imported goods will have all their fees and taxes paid as well as be imported according to all laws and regulations. Anyone that is importing goods or transporting them locally is required by Customs and Border Protection to puchase a bond from a surety company. 

If an importing company fails to pay fees or follow regulations, Customs can file a claim against the bond. The surety company would then pay to make restitution, but in the end it is the company who is required to pay back the surety company.

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