When a shipper begins importing into the United States, they must have a U.S. Customs Import bond on file to get their products cleared by Customs. But how long does it take to place a U.S. Customs Import bond?
What is a U.S. Customs Import Bond?
A Customs Import Bond is a financial guaranty between 3 parties:
- The Insurance or Surety Company issuing the Customs bond
- The Importer (Principal) who is required to file the bond
- U.S. Customs & Border Protection (CBP)
A Customs bond guarantees CBP that if they cannot collect duties, taxes, and fees due from the Principal, they can collect up to the bond amount from the Insurer. A Customs bond also protects the Insurer, allowing them to use legal means to collect money paid to CBP on the Principal’s behalf from the Principal.
How long does it take to put a Customs Import Bond in place with TRG?
U.S. Customs and Border Protection ultimately determine the length of time it takes to file a Customs Import bond. To get a U.S. Customs Import bond placed as soon as possible, it is best to quickly and correctly complete the required documentation.
Although this time varies, a $50,000 Continuous U.S. Customs Import Bond will typically require 15 calendar days to become active. Other types of Customs Bonds or bonds of different amounts could require more notice and take longer to put in place.
Trade Risk Guaranty (TRG) is the world’s largest client-direct supplier of U.S. Customs Bonds and Cargo Insurance. At TRG, we provide Continuous Customs Bonds directly to importers to provide the best price and level of service possible. If you are interested in placing a U.S. Customs Import bond with TRG, contact us.
Learn more about U.S. Customs Import Bonds
Understanding the details of purchasing a Customs Bond can be intimidating at first. However, TRG has a video library to help simplify the essential things you should know about securing a Customs bond and so much more.
What is a U.S. Customs Import Bond?
Differences Between Single Entry and Continuous Customs Bonds
How to Calculate Your Customs Bond Amount
What is Bond Sufficiency?
If you’re interested in learning more about importing into the United States, subscribe to our YouTube channel and the TRG Peak Blog for more educational content on the international trade industry.
