Customs bond
Also called: continuous bond · single transaction bond · CBP Form 301
A US contract between the importer, a surety company and CBP guaranteeing payment of duties, taxes and penalties and compliance with regulations. A single transaction bond covers one entry; a continuous bond covers all entries for a year up to its amount.
In practice
Formal US entries need a bond, and an insufficient bond after duty increases can block new entries until it is raised.
Applies to: 
USA
Related terms
- Customs guarantee
- Financial security, such as a cash deposit, bank guarantee or surety undertaking, provided to ensure payment of a customs debt that has arisen or may…
- Importer of record
- The party legally responsible for an import, including correct declaration, payment of duties and compliance with regulations. The term is used…
- CBP
- The US federal agency within the Department of Homeland Security responsible for customs and border control, including collection of duties,…