What is a Customs Bond?
It's a contract between the importer, customs, and a third party to ensure all duties are paid to Customs.
Do you need a Customs Bond?
You only need to get the bond if:
• The value of your imported goods is greater than $2,000
• You are importing textiles worth more than $250
• You have to meet federal regulations for products such as firearms or food
There are 2 types of Customs Bond:
• Single Entry Bonds, for a per shipment basis
• Continuous Bonds, which are valid for a year
💸 How much does a Customs Bond cost?
1. Single Entry Bond :
A single entry bond is usually calculated at $5.50 per $1000 of the Bond Amount, or a $55.00 minimum fee .
Single Entry Bond = (Bond Amount) / $1000 * $5.5
Bond Amount = Total Declared Value + Duties & Taxes
2. Continuous Bond
To be eligible for a Continuous Bond, the Bond Amount needs to be minimum $50,000 .
The Bond price is then $475 per year.
Continuous Bonds are valid for only one year, and every renewal will cost you $475.
Logistics nerd and resident marketing guy of Bookairfreight. I love writing content that simplifies old-fashioned industry processes and provides solid, accurate information you can base your decisions on. Outside of logistics, I enjoy nature, hanging out with friends, electronic music and spirituality.