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.
Exhibit 1 gives some examples of the relative costs of customs bonds and customs broker.
Visitors are able to easily apply online for a Customs bond or cargo insurance as well as register to use the web-based software.
Zep-Re manages the Comesa Customs Bond Guarantee (RCTG) Scheme, a customs transit regime designed to facilitate the movement of goods under Customs seals in the Comesa region and to provide the required customs security and guarantee to the transit countries.
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.
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.
Now located at 140 East Main Street, Suite G, Bozeman, MT, TRG is an international surety agency providing Customs bonds, marine cargo insurance, and other trade-related products direct to companies that import into the United States.

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