As part of the Customs Bonds 101 e-Book series, learn the basics of the Airport Security Bond, why Customs requires it under certain circumstances, and determine if you need one.
Airport Security Bond Basics
An Airport Security Bond is also referred to as an Airport Customs Security Area Bond. Typically this bond is used by stores, restaurants, and other companies operating within an international airport’s security area. This bond is an agreement to comply with Customs regulations within these areas at an international airport. Under this bond the principal guarantees their employees are going to follow federal regulations, and if they don’t pay their fines, the surety will provide required monies.
Size and Specifics of the Bond
Commonly designated as an activity code 11 this bond has a minimum size of $10,000. The size is usually based on a calculation of $1,000 per employee with access to Customs security areas. However, the amount required per person, or as a group, is designated by the Airport Director and can vary from airport to airport. Essentially any business that operates behind security at an international airport needs to be bonded in this fashion. Although it is a Customs bond, the Airport Security Bond cannot be used to import goods into the United States.
Be sure to check our blog and stay informed regarding which type of bond you need to best fit your practices. George Dickson composed this engaging eBook series for the benefit of the people, and we all owe him thanks.
