At Trans-World Shipping Service, Inc., we offer assistance in the preparation of customs bond applications to ensure our clients have adequate bond coverage in place prior to shipment. A customs bond is required for any commercial shipment entering into the United States and each importer is required to obtain one prior to shipment. It acts as a security for compliance with U.S. law and ensures all duties, taxes, and other applicable fees be paid to CBP.
Single Entry Bond
A Single-Entry Bond, or Single Transaction Bond, is the most basic and straightforward customs bond that covers one shipment of goods. In most cases, the amount of the bond must be equal to the customs entered value of the goods plus the duties, tax, and other fees. This type of bond is appropriate for importers bringing in minimal shipments per year (no more than 5).
A continuous bond can be a more cost-effective option and is normally selected by importers shipping more frequently. Effective for a 365-day period from its effective date, the continuous bond covers all ISF and entry transactions for a year. It’s valued at 10% of the duties, taxes, and fees the importer expects to pay to Customs in that 12-month period.
Knowing what types of customs bonds are available to you, and who you can turn to for help, can make the entire shipping process that much easier. The next time you are looking for a customs bond, the knowledgeable staff at TWS can help you tailor the bond to your specific needs!Contact Us