Trade Risk Guaranty explains when you purchase a continuous bond and the company goes out of business.

What if I purchase the continuous bond with a multiple year option and your company goes out of business?

by | Apr 15, 2010 | Bond Claims, Customs Compliance, Importing Entry Process, U.S. Customs Bonds

While it’s an unlikely event, but some people may wonder what would happen to their Customs continuous bond if their company goes out of business. At TRG, our experts can help you to navigate through the process.

In this highly unlikely event, your continuous bond is not affected in the least. The insurance company issues your bond and your contractual agreement to pay them for coverage is between you and them. TRG facilitates the insurance company’s ability to provide you highly specialized service, but in the even TRG were to not exist, the insurance company would either service internally or obtain the services of another surety agency to service your account.

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