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CUSTOMS BROKER bonds

Importer Bond
This U.S. Customs bond guarantees duties and taxes are paid on imported goods and that the goods are in compliance with Federal Regulations. The continuous Importer bond has been amended to cover Importer Security Filing.

 

Drawback Payment Refunds Bond
This continuous U.S. Customs bond allows an importer to obtain a refund of 99% of the duties paid on imported goods upon providing proof these goods were exported.


Custodian of Bonded Merchandise

This bond covers the activities of bonded merchandise warehouses, carriers, cartmen and container stations. All of these business types are responsible in the course of their activities for merchandise which has not yet been entered into the commerce of the United States and on which duties are still due. Such goods are referred to as being in-bond. The continuous Custodian U.S. Customs bond has been amended to secure Importer Security Filing.

 

International Carrier Bond
This U.S. Customs bond ensures operators properly manifest all goods and passengers they carry, pay for the overtime services of Customs officers and comply with all regulations related to the clearance of their vehicles. This U.S. Customs bond has been amended to secure Importer Security Filing.

 

Foreign Trade Zone
An FTZ is considered non-U.S. territory for Customs’ purposes and foreign goods placed into the FTZ may be manufactured, manipulated, repacked or exported without paying duties. The continuous FTZ bond has been amended to secure Importer Security Filing.

 

Airport Security Bonds
An Airport Security Bond (ASB) is a U.S. Customs bond needed for out sourced service companies to enter secured areas of airports (like cleaning services not employed by the airlines to clean planes or maintenance individuals not employed by the airlines to fix something)
 

Custom Bond Application -TO FILE C.F. 301 — CONTINUOUS  

 

Customs is Changing How Bonds Are Filed - What You Need To Know

Customs is currently working on an overhaul to Customs bonds and how they will be filed.  We are dedicating this newsletter to Customs new eBond filing system and what it will mean to our broker and principal clients. 

 What is eBond?

 eBond, short for Electronic Bond, is the new process Customs will be using to process single transaction and continuous bonds. Instead of sending a paper bond to Customs, as we do today, bonds will be filed electronically with Customs, vastly reducing the approval time by Customs. 

 When does eBond take effect?

 Customs has advised that they plan to have ebond deployed on January 3, 2015, with full implantation by November 2015. Customs plans to introduce eBond with single transaction bonds (please see the sidebar) but then quickly incorporate continuous bonds into the process. We do not have a specific launch date for continuous bonds.

 How is the eBond process different than the current process for continuous bonds?

The goal of this new process is to be faster and more streamlined for the processing of the bonds by Customs.

 Currently, the filing of a continuous bond with Customs includes the filing of many signed documents, including a 301 bond form, a 5106 form, letter of application etc.  Once these forms are filed with Customs, Customs will then input the bond into their system.  Currently it takes Customs about 5 to 10 business days to input a bond from the date the bond is filed.  Once the bond is input by Customs, a Customs bond number is assigned as verification that the bond has been entered into the Customs database.

Can we still file bonds with the traditional bond forms using the existing system?

 Customs has indicated that they will still accept the traditional bond forms and continue to process bonds filed using the current bond filing process. 

Custom Bond Application -TO FILE C.F. 301 — CONTINUOUS  

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