A charge for the purchase and processing of a Customs bond, which is required for importations. The bond is an indemnity provided to Customs by an importer, transportation carrier, CFS, warehouse, or other party to help assure their compliance with Customs regulations and payment of duties, taxes, fines, penalties, and constructive seizure amounts. A Customs bond is a requirement to import into the US as per US Customs regulations; often bonds are purchased through a Customs broker. Bonds can also be purchased on a term (i.e., continuous/annual bond) or on a shipment-by-shipment basis (i.e., single entry bond). See also: continuous bond and single entry bond.
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