An indemnity agreement with a CBP US customs bond is a type of financial guarantee that is required by the CBP for certain import transactions. The bond is a contract between CBP, the importer (also known as the principal), and the surety company that issues the bond. The bond serves as a guarantee that the importer will comply with all applicable laws and regulations related to the importation of goods into the United States.

The indemnity agreement is a separate agreement that is typically required by the surety company as part of the bonding process. It is a contract between the surety company and the importer in which the importer agrees to indemnify the surety company for any losses or damages that it may incur as a result of the bond. This means that if CBP makes a claim against the bond and the importer is unable or unwilling to pay the claim, the surety company can seek reimbursement from the importer under the terms of the indemnity agreement.

The purpose of the indemnity agreement is to transfer the risk of financial loss from the surety company to the importer. By signing the indemnity agreement, the importer assumes the liability for any damages or losses that the surety company may incur as a result of the bond. This helps to protect the surety company and ensure that it will be able to fulfill its obligations under the bond if a claim is made.