Customs Bond

972

A Customs Bond is a financial guarantee required by customs authorities to ensure that importers, exporters, or brokers comply with regulations and pay all duties, taxes, and penalties owed. The bond is typically issued by a surety company and protects the government against financial loss due to non-compliance. Customs bonds may be single-entry, covering one shipment, or continuous, covering multiple shipments over a set period. Obtaining a bond is often mandatory before goods can be cleared through customs in many countries.