Anova Customs Bonding Solutions
Anova offers a variety of customs bonds for our customers, which are categorized into 12 Activity Codes designed to cover specific situations and types of goods common in international trade. Moreover, some Activity Codes may be written as either a Single Transaction Bond or a Continuous Bond. A Single Transaction Bond covers a particular import shipment and can only be used for one customs transaction. A Continuous Bond is a self-renewing term bond which covers all customs transactions through any port of entry.
The most common Activity Codes utilized for customs bonds are explained below:
Activity Code 1: Importer or Broker Entry Bond
Activity Code 1 is the most common type of customs bond and is generally utilized by an importer of merchandise in order to guarantee to the government that the duties are paid in the proper amount and that the goods imported are in compliance with the laws of the United States. An importer can obtain either a Single Transaction or Continuous Bond for Activity Code 1.
Activity Code 1a: Bond for Accelerated Payment or Drawback
According to Activity Code 1a, when merchandise is imported into the U.S. and later exported, an importer may be entitled to a refund of duty – referred to as drawback. With accelerated drawback, the refund is granted before liquidation of the entry. This particular bond guarantees repayment of the duty to U.S. Customs if found to be excessive after liquidation occurs and can be written as either a Single Transaction or Continuous Bond.
Activity Code 2: Custodian of Bonded Merchandise
An Activity Code 2 bond secures obligations relating to custodial activities of all classes of bonded warehouses, domestic common carriers, cartmen, lightermen, centralized examination stations and container freight stations. For example, bonded warehousemen guarantee the custody of freight while stored under customs supervision until withdrawal for consumption and domestic common carriers guarantee the custody of bonded goods while being transported from one customs district to another. A Custodial Bond may be written as a Continuous Bond only and must be filed in the applicable or local port.
Activity Code 3: International Carrier Bond
Bonds written for Activity Code 3 cover activities related to the entry or clearance of vessels, vehicles or aircraft from outside the United States. This bond guarantees that carriers moving merchandise on which no duty has been paid (whether it be within one port or from one port to another): (1) will allow merchandise to be delivered only as authorized by U.S. Customs; (2) will report all arrivals of such merchandise in a port to Customs; (3) will accept the expense of providing such security measures as are required by Customs for reimbursable services; and, (4) in default of certain conditions, will pay to Customs the duty due on merchandise. These particular bonds can be written as either a Single Transaction or Continuous Bond and, if continuous, must be filed in the applicable or local port.
Why Choose Anova for Customs Bonds?
Friendly and knowledgeable staff comprised of trade attorneys and freight forwarders who are dedicated to helping you navigate the complexities of customs bonds.
Unmatched customer service focused on fasciliating your customs bonding needs.
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