Customs Bond

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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 ?
Exhibit 1 gives some examples of the relative costs of customs bonds and customs broker.
Some business travelers hire a customs broker to handle the customs bond paperwork and save them time and money.
According to Ed Titus of Ullico Casualty, "The vast majority of customs bonds are provided by customs brokers at prices as high as $800 per year.
Customs Bonds for which it controls about 33 percent of the market, cargo insurance and professional liability for the broker forwarder industry.
Well-known as a market leader in Customs bonds, Intercargo is admitted in 48 states, Washington D.
customs bonds continue strong, the overall surety line during the fourth quarter of 1996 was negatively impacted by the contract bond line deterioration, which necessitated an overall increase to surety reserves in the quarter.
Customs Bonds, Marine Cargo Insurance, Property & Casualty Insurance, and Professional Liability coverages for the transportation specialist industry.
Customs bonds, cargo insurance, property & casualty insurance and professional liability for the broker/forwarder industry.
Visitors are able to easily apply online for a Customs bond or cargo insurance as well as register to use the web-based software.

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