There are several main types of Customs bonds that may be required by the U.S. Customs and Border Protection (CBP) agency depending on the specific needs of an import business. Some of the main types of Customs bonds include:

Continuous Transaction Bond (code 1) is a self-renewing term Importer Entry Bond, which covers all Customs transactions through all ports of the country for an importer. The bond amount for a continuous bond is determined by taking multiples of $10,000 nearest 10% of duties, taxes and fees paid by an importer during the last calendar year. The minimum continuous bond amount is $50,000. This bond is valid until it is terminated by the principal or the surety.

Single Entry Bond is a one-time Importer Entry Bond for a particular import shipment, which can only be used for one Customs transaction. The bond amount for a single transaction bond is equal to the total entered value of the merchandise plus all duties, taxes, and fees. However, if the merchandise is subject to other government agency requirements or visa/quota requirements, the bond amount would be equal to three times of the total entered value.

Drawback Payment Bond (continuous bond code 1A) allows an importer to obtain a refund of 99% of the duties paid on imported goods upon providing proof these goods were exported.

Custodian of Bonded Merchandise (continuous bond code 2) covers the activities of bonded merchandise warehouses, carriers and container stations. All of these business types are responsible in the course of their activities for merchandise which has not yet been entered into the commerce of the United States and on which duties are still due. Such goods are referred to as being in-bond.

International Carrier Bond (continuous bond code 3) ensures operators properly manifest all goods and passengers they carry, pay for the overtime services of Customs officers and comply with all regulations related to the clearance of their vehicles. Also, this bond can be used for compliance with users of the AMS system.

Foreign Trade Zone Bond (continuous bond code 4) is considered non-U.S. territory for Customs’ purposes and foreign goods placed into the FTZ may be manufactured, manipulated, repacked or exported without paying duties.

The specific type of Customs bond that is required for an import business will depend on the nature of the imported goods, the value of the goods, the estimated customs duties, taxes, and fees that will be due, and other factors.