NETBonds is an International freight and custom brokerage consulting agency. We have over 20 years of freight forwarding and US Customs clearance experience with an idea to make applying and receiving a Continuous Customs Surety Bond a quick and affordable process.

A Continuous Customs Surety Bond guarantees that all customs duties and penalties assessed and charged by U.S. Customs will be paid by the Importer.  The bond is effective for a year and is automatically renewable annually.  The Continuous Customs Surety Bond is for a sum of not less than $50,000 or 10% of the total duties paid in previous year.

If you are an Importer of goods into the USA, US Customs requires the Importer to have a bond assigned to the import entry by law.  This can be done in two ways, (1.) a single transaction bond where you would pay a fee based on the value of the shipment per entry or (2.) a continuous bond which covers all customs entries annually from the inception date of the bond.

There are many benefits:

• Cost:  The minimum cost of Single Transaction Bond is $50 or $3.50 per $1,000 compared to the annual cost of $280. Therefore, if an Importer plans to ship more than six times into the US (6 x $50 = $300) or has a total value $100,000 of imported goods for the year ($100000 x 0.0028 = $280), anything over that would be more than having a Continuous Customs Surety Bond.
• Time: With a Continuous Customs Surety Bond on file, your Customs Broker can submit the entry to US Customs prior to the flight landing (wheels up) or prior to ocean vessel arriving at US port of entry by utilizing the arrival notice. With a continuous custom surety bond your customs clearance can be automatically processed (paperless) by US Customs computer system where as every single transaction submission must be released by an actual customs officer.
• Flexibility: With a Continuous Customs Surety Bond on file, your customs broker can file your import entry in any US port / Airport in the USA on your behalf through a remote filing.  Single transactions bonds cannot be processed remotely therefore you must find a customs broker licensed for that particular port.

A single transaction bond can be used but the cost will be assessed on triple the value + duty of the goods being imported (i.e. if you import a medical device valued at $100k at 3% duty your single transaction bond fee would cost +$1000). With a Continuous Customs Surety Bond on file there would be no additional cost.

Your bond # is attached to your Tax ID# or EIN. Therefore, you can use any Customs Broker of your choice and your Customs Broker can query your Tax ID# with US Customs to see if your bond is active, the value of the bond and the validity.

A Surety Bond is a contract that’s among at least three parties:

• Importer (Principle) –Pays the duty
• US Customs (Beneficiary) – Receives the duty
• Insurance Co (Surety) – Guarantees the importer pays US Customs

US Customs will send your firm a notice of non-payment and a fine. Your fine will increase + interest on your duty owed till US Customs will receive full payment. You, the importer will be put on a sanction list by US Customs and all future duty payments will have to be done by certified check. Eventually US Customs will collect the duty from the Surety Company that issued your bond. The Surety Company will use all means necessary to collect all fees incurred plus interest from the importer.

NETBonds guarantees a full refund of your purchase if your Continuous Customs Surety bond is not available against your Tax ID# within 15 business days from the application, POA (power of attorney) and payment being received.

You can use the contact form on our website or contact us via the information below:

NETBonds
1140 Highland Ave Suite 500
Manhattan Beach CA 90266
Email: info@importcustomsbond.com
Tel: (800)383-3812