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ACE Ocean 38 – What charges does a surety make?

Any premium charged by a surety to a customer is not regulated by US Customs. The US Customs and Border Protection administers and collects the financial obligations for imports.

This is a charge that the surety makes to the company assigned to pay for bonds. Insurance companies establish bond charges based on many risk factors. For example, the surety charges more for a $100,000 bond than for a $50,000 bond. Additional fees may be charged for bonds with anti-dumping entries, reconciliation rider, periodic monthly statements, or warehouse bonds, etc.

In general, the insurance company charges a standard fee for standard losses.  Surcharges are added for those risks with additional exposures, but not all bond holders are required to pay additional fees to cover these risks.

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