The importing business is fraught with risks, delays, and issues that can keep your shipment from getting to you and your customer on time. Although you may not be able to prevent every contingency, you can certainly take steps to prevent delays at various points along the shipping path. If you regularly import goods, you may want to purchase a continuous custom bond. This bond is in place for a 12-month period and makes clearing your entries through customs much easier.
When your business first starts out, you may purchase a single-entry import bond. This bond is a guarantee to the government that your business will pay all of the taxes and fees on the shipment, and that you have complied with laws and regulations that govern the merchandise. Any import shipment valued at more than $2,500 is required to have an import bond. If your shipment has to comply with other agency regulations, it may need an import bond, too.
Once you begin shipping products regularly, you may want to consider a continuous bond. This bond saves time because the customs clearance can be automatically processed. It also gives your customs broker more flexibility, thus ensuring your shipment won’t have issues getting through customs. Typically, a continuous bond is more cost-effective too. Ask your customs broker about a continuous bond to see if it makes sense for your organization.