What are the Different Types of Customs Bonds?
A continuous customs bond lasts for one year and allows imports to come into the United States continuously during that time.
What is an Import Bond?
This is the gold stand standard of bonds when it comes to importing. Activity Code 1 Import bonds are required by importers to clear U.S ports of entries.
What is a Drawback Bond?
A drawback bond, known as a Activity Code 1a bond, allows for importers to receive up to a 99% refund of all duties paid as long as the goods were exported out of the U.S.
What is a Custodian Bond?
An Activity 2 - Custodian bond covers specific bonded merchandise working through businesses such as warehouses, carmen, container stations and carriers. These goods are known as in-bond.
What is an International Carrier Bond?
Activity 3 - International Carrier Bonds covers the goods, the passengers involved and the overtime involved for those working to clear international goods.
What is an FTZ Bond?
An Activity 4 - Foreign Trade Zone Bond is needed for Custom Clearance in non U.S. territories. This covers your goods in foreign areas and also keeps the goods secured when they are built or repacked outside of U.S. territories.
What is an Airport Security Bond?
The Activity Code 11 - Airport Security Bond is utilized for companies you outsource to move goods to secure areas of airports. This applies to employees in all areas of the airport that handle your goods as well.
What is an Importer Security Filing Bond?
Activity Code 16 - Importer Security Filing Bonds are needed for each ISF filing to help protect against and oversee fines and penalties that may occur for late ISF Filings.
• Activity Code 1 - Import Bond
• Activity Code 2 - Custodian of Bonded Merchandise Bond
• Activity Code 3 - International Carrier Bond
• Activity Code 3a - Instruments of International Traffic
• Activity Code 4 - Foreign Trade Zone Board
• Activity Code 11 - Airport Security Bond
• Activity Code 16 - Importer Security Filing Bond