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A Customs Bonds, also known as carrier bonds, is an important document that allows imported commercial goods to be transported into the U.S. and Canada. It is essentially a guarantee to the Canadian or U.S. government that any fees, taxes, and duties owed will be paid when asked.
The U.S. and Canada have different regulations when it comes to importing and transporting goods in the country. For trucking carriers that are moving goods between these countries, it’s important to understand the differences between the Customs Bonds and comply with both.
Customs Bonds also popularly known as carrier bonds are an important piece of documentation to secure your transportation while importing commercial merchandise over $2,500 in to the U.S. This is equally important for all commodities, such as food items and firearm, which are subject to other federal agencies requirements. The custom bond ensures that you will pay all the fees, taxes, and duties owed to the federal government.
All goods being imported into the U.S. require a Customs Bonds, and without one your goods will be denied entry into the country. The U.S. offers “single entry” and a “continuous bond”. For those that are moving goods into the U.S. frequently, a continuous bond might be more economically beneficial.
Unlike the U.S., a Customs Bonds is not an entry requirement in Canada. Those importing commercial goods can either pay at the border or get a Customs Bonds ahead of time. A Customs Bonds allows your imports to be released into Canada and all duties and taxes will be paid at a later date.
A Customs and Border Protection bond can be obtained through a surety licensed by the Treasury department. Alternately, you can take help of AVAAL, who are brokers for sureties and entitled to sell bonds.
Customs Bonds are incredibly valuable and can make the importing process for trucking companies smooth and efficient. A carrier bond can be obtained from a licensed surety, or a customs broker such as AVAAL. Obtaining a Customs Bonds can be a complicated and daunting task, which is why many businesses come to AVAAL for help. We have years of experience and can guide your businesses through the regulation maze to help you get a Canadian or U.S. Customs Bonds.
AVAAL can guide your business through the regulatory maze and help you get the US and Canada bonds needed to take more lucrative cross-border loads. Our permit consultants can put you on the right path to success. Contact us at 647-943-1304 or authorities@avaal.com.
A warehouse or facility operator who wants to become a Customs bonded facility needs to obtain a Customs Bonds.
International carriers, who transport passengers via air, water or road, into the United States from a foreign destination need to obtain Customs Bonds.
Those who are wishing to serve as a Customs Broker or as an approved gauge or laboratory also need to obtain a Customs Bonds.
