What is a Customs Bond?
A Customs Bond is an agreement that guarantees that a detailed commitment or contract will be satisfied amongst the U.S. Customs and Border Control Department and a company or individual that is importing or exporting goods in the United States. The purpose of this bond is to guarantee the payment of importing taxes and fees associated with bringing items into the United States from an oversees destination. This type of Bond may also be referred to as an Activity Code 1 Surety Bond. Customs Bonds are typically broken down into two categories, Single Entry or Continuous Entry.
How does a Customs Bond Work?
This type of Surety Bond guarantees that the company or person importing goods into the United States accounts for all of the items they are bringing into a certain location. It guarantees that the shipper pays all duties, fees, and taxes that may be due on the items coming in.
How much does a Customs Bond Cost?
The cost for a Customs Bond is typically based on the credit history of the owners of the company or the frequency of the actual import of goods. All owners with 10% or more ownership will be taken into consideration. Should an account be considered borderline, we may need to review personal or business financials to secure a quote. At Universal Service Agency we specialize in placing clients in any circumstance that may present itself from “superior credit” to “less than perfect credit” and everything in between.
How do I get a Customs Bond?
You can get a Customs Bond by contacting surety bond agents/brokers. Since you’re already here, you can give us a call at 215-646-2400 or Apply Now here.
How to Choose a Bonding Company?
Universal Service Agency offers Surety Service Made Simple. We are the fastest surety only agency in the country, with over 100 years of combined surety experience servicing all 50 states. We exhaust all of our resources to get you the fastest turnaround times and lowest rates. We can help anyone, even clients that may not fit into the standard market. You can get a free quote here or call our bond experts at 215-646-2400.
How long does it take to get a Customs Bond?
Universal Service Agency can issue bonds the same day an application is received but these bonds tend to take 24-48 hours. The amount of time between application and issuance is affected by a number of factors though, including but not limited to, the size of the obligation, the type of bond, and promptness of the premium payment.
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Universal Service Agency is the fastest “surety only” agency in the country, with over 100 years of combined surety experience servicing all 50 states.