Customs Bond


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Related to Customs Bond: performance bond

Customs Bond

A bond or insurance policy covering a company in the event that it loses money as the result of failing to comply with customs regulations. A customs bond is posted with the government of the importing country to guarantee payment of fines and other fees.
References in periodicals archive ?
The effect of the anti-dumping duty and customs bond enforced from 2004 was dramatic on Indian seafood exports.
The first alternative, customs bonds, can be expensive.
Participants will also learn about Dubai's unprecedented sea-land-air link, which allows the free movement of goods between Jebel Ali Free Zone, Jebel Ali Port, one of the busiest ports in the world, and Al Maktoum International Airport, which is designed to handle 12 million tonnes of freight, within a single customs bond.
02mln (XAF 800mln) customs bond to be offered to Cameroon Customs, enabling its arm, Gaz du Cameroun (GDC), to import the Gensets without paying import duty for 12 months.
com, Surety Solutions will offer an annual premium of $229 (including all fees) for the minimum, $50,000 continuous customs bond.
The study suggests that customs pre-declaration or pre-entry, use of the single customs and regional customs bond guarantee scheme to cover the goods from the port of entry up to destination can reduce these times significantly.
Visitors are able to easily apply online for a Customs bond or cargo insurance as well as register to use the web-based software.
Our second software initiative, GEMLINK and OmniClaims Tracker, which automates the customs bond, cargo insurance and claims handling process, has been extremely well received in the marketplace.
customs bonds as well as bonds for small-to-medium sized contractors, has agreed to purchase the U.
To offset the reduction in revenue resulting from decreased subdivision writings, the companies have expanded their writings of license and permit as well as customs bonds, having contracted with a number of specialty bond brokers throughout the United States.

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