There are typically three parties to a Customs bond: the principal (the import business), the obligee (the U.S. government), and the surety (the bond company). The principal is the party that is responsible for importing the goods and paying customs duties, taxes, and fees. The obligee is the party that is protected by the bond (in this case, the U.S. government). The surety is the party that issues the bond and provides the financial security for the bond. The surety is typically a bonding company or an insurance company.
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