Bonds

Question: Can the membership please share their experience with using a continuous bond for customs clearance versus cash deposits on a regular basis and are there any special requirements for using the bond?

I just got a real shock from my Customs Bond Provider. I paid my yearly premium this past March. In April I got a notice from customs to increase my bond. I forwarded to bond provider who cancelled my existing bond and created a new one with the higher amount. I was expecting to get […]

I need to get additional information on how other companies handle POA and bond issues. We have at least 12 separate divisions who are importing and exporting from the US. Each division has it’s own EIN number, except those that have been integrated. Do I need to get a separate POA/ bond for each division […]

Who obtains your continuous customs bond? It has been my experience as a customs compliance manager with a couple of different importers that the Risk Management Dept would obtain one through their usual bond company, based on annual import value numbers that I supply. But now I have just discovered that another company (a subsidiary […]