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.
* Post a customs bond. This can be done through a customs broker or by leaving a cash deposit using a bank draft or the local foreign currency.
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.
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.
Trade Risk Guaranty's website features do-it-yourself trade facilitation products including Customs bond, import/export commodity insurance, HTS classification and direct filing.

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