There are two main ways importers can get Customs Bonds<\/a>. Commonly bonds are purchased via a third party or directly from a surety agency.<\/p>\n When a bond is purchased via a third party, commonly a Customs Broker or Freight Forwarder, it can mean higher cost and unawareness about\u00a0specifics for an importer. However, bonds acquired directly from a surety typically are inexpensive and give importers a closer relationship to their individual policy.<\/p>\n There are many factors that pertain to deciding which of the bond sources is best for you, but the major areas of concern are cost, claims, payment options, additional services, and surety rating.<\/p>\n The cost\u00a0can be a major difference between a bond purchased through a third party and one via a direct provider. Typically bonds bought from a third party are more costly, as\u00a0Customs Brokers and Freight Forwarders<\/a> are not licensed sureties and must go through another agency to buy the bond. Then, they will mark up the price before providing it to the importer.<\/p>\n The\u00a0claims\u00a0process is another factor an importer should consider before purchasing a bond. Finding out how your potential provider deals with claims is a great indicator of how well they treat their customers, as often times these processes can be stressful and costly.<\/p>\n Payment options\u00a0for bonds purchased through a third party vary\u00a0from those bought directly from a surety. Depending on what works best for your needs, this attribute can make all the difference when picking a bond source.<\/p>\n Identifying which\u00a0additional services are\u00a0provided is another great way to find out which bond source is right for your importing needs. Occasionally bonds from third parties do not cater to an importer’s individual needs like those via a direct provider, because they may have less familiarity with policy specifications.<\/p>\nThe Nature of Bond Sources<\/h2>\n
Indicators of Service Level<\/h2>\n