What is a Temporary Importation Bond?

Posted on: July 27th, 2012 • In Bond Type: 301-1 - Importer, Bonds

A Temporary Importation entry, or TIB (which stands for Temporary Importation Bond, a misnomer), is one of several ways goods can be entered into the U.S. When goods are entered in this manner, the importer is declaring to Customs that they are exempt from having to pay duties as the

Read More

Terminating a Customs Bond

Posted on: July 27th, 2012 • In Bonds

While many other lines of insurance can be terminated on any day the client chooses, Customs bonds require sufficient advance notice and some forethought before being cancelled. The two most common ways to terminate a Customs bond is by a request from the principal, or at the request of the

Read More

What is a Drawback Bond?

Posted on: July 27th, 2012 • In Bond Type: 301-1A - Drawback, Bonds

Duty Drawback, or the 301-1A, is a process by which an entity, known as the claimant, may recover up to 99% of the duty they paid on goods to enter those goods into the country & then either exported or destroyed those goods. The claimant may file a claim with

Read More

Acting Quickly with Sufficiency Letters

Posted on: July 27th, 2012 • In Bonds

Customs periodically monitors the sufficiency of active bonds they have on file. If Customs finds that an active Importer bond is not sufficient based on the import activity of the principal, they will provide a sufficiency notice to the principal requiring the bond to be rewritten at a higher amount.

Read More
  • Bond Application

    Fill out our simple bond application and send it over with your client's most recent financial statement to our office for review. Download a Customs Bond Application
  • Connect With Us