A single entry bond or continuous entry bond must accompany most US customs import declaration entries.
A CBP bond is a contract that is given to insure the performance of an obligation or obligations imposed by law or regulation. A bond is like an insurance policy that guarantees payment to U.S. Customs and Border Protection (CBP) if a required act is not performed.
A continuous bond is normally obtained by importers who have a large number of entries and/or imports through several ports of entry during a given year. They are also obtained by international carriers who frequently arrive and depart the CBP territory and by custodians of merchandise who do business with CBP on a regular basis. It has a term of one year and is automatically renewed each year. A continuous bond is valid until it is terminated by the surety or the principal.
The minimum bond value for continuous bonds is generally $50,000. For importers, the minimum continuous bond amount is $50,000 or 10 percent of the total taxes and fees paid in the previous 12-month period whichever is greater.
To download the continuous bond application template please click on the link below: