If your company is considering importing goods for commercial purposes, you may need to fill out a customs bond application. A customs bond is an agreement with U.S. Customs & Border Protection that ensures the fees and duties associated with importing merchandise will be paid, either by the importer or a surety. The surety, such as an insurance company, must be licensed by the U.S. Treasury Department.
All applications are sent to the CBP’s Treasury Department in Indianapolis, Indiana and can be sent by fax or email. On the application, you will need to designate which type of bond you are applying for, either single entry or continuous. You will also be asked to provide the type and origins of the goods you are importing, any estimated taxes and duties, and names and addresses for both the importer and surety.
You may want to work with a customs broker to streamline the bond application process. If you do, he or she will be able to file the necessary paperwork and collect any fees and taxes; however, you may need to sign a power of attorney form to authorize them to work on your behalf. Each customs brokerage company has its own platform and process, so work with them to ensure they have all the information to get the application submitted.