CBP (U.S. Customs) bonds are contracts that are given to protect the performance of legal or regulatory obligations. Bonds are like insurance policies that guarantee payment to Customs and Border Protection (CBP) in the event that a requirement is not met. CBP uses bonds in a variety of ways.
Importers most commonly use this method to take possession of their goods before all CBP formalities are completed. It is also common for carriers to move goods under bond from one place to another prior to entry into the country for consumption and duty payment.
Those who import commercial goods into the United States or transport them through the United States must have a CBP (Federal Customs and Border Protection) bond. CBP has the authority to require bonds under title 19, United States Code, section 1623. Most Customs’ bonds are taken under that authority. Several statutes also require Customs to get a bond from those who want to conduct certain transactions.
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