301 Customs Bond

It won't be a scavenger's hunt if one desires to obtain continuous import bond, but knowing the importance of it is vital. When it comes to importing goods into the United States, importers are always recommended to read through important lengthy informat

When Do Importers Need To Know About CBP Form 301?

301 customs bond continuous import bond customs surety bond

When we starting off, all options are there but as soon as you go forward and select anything, it is difficult to revert. The priority of importers is always confirming all details for a successful importation of goods.

Especially in United States, the merchandise by sea is highly governed by the federal government. To protect US territory and treasury, the authorities formed U.S. Customs and Border Protection (CBP) in 2003.

CBP acts like principal, responsible for collecting fees, taxes and duties applied on commodities. Importers require carrying kind of surety bonds that we often call continuous customs bond. It is also referred as CPB Form 301. It is because CBP Form 301 is the letter to be submitted to possess a 301 customs bond.

When Do You Need CBP Form 301?

After 2012, CBP made mandatory to acquire any customs bonds by filling Customs Form CF 301. So as an international merchant you might seek customs surety bond, in case your merchandise value is exceeding $2,500.

Importers mostly need to know about CBP Form 301 when they want to have either Single Transaction Bond or Continuous Import Bond.

If you runs small business and don’t need to carry out more than one imports in a year to a specific region, single entry bonds would be ideal choice.

f:id:cbicustomsbonds:20190108152714j:plain

If you want to import multiple stocks in a year to varied ports of America, in this case you need to obtain a 301 customs bond.

This is how you can obtain acontinuous customs bond

Before commencing the import process of your goods, it is necessary to complete all documentation procedure for bonds. A customs brokerage can help you with customs form CF 301and in obtaining appropriate continuous customs bond.

A licensed broker may help you with CBP Form 301 and submitting customs surety bond, making the delivery safe and on time. An average cost you may have to pay to broker is around $400-$500 per year. The price range may vary depending on which insurance company or brokerage you have contacted and what type of bond you require.

You have wide options available, just search on internet about bonds and employ an experienced team of brokers that work dedicatedly for you.