Flexible Bond solutions to meet your legal obligations
If you are Freight forwarders or NVOCCs handling cargo into or out of the United States, are legally obliged to carry Bonds licensed by the US Treasury that guarantee payments to third parties.
ANOVA provides Ocean Transport Intermediary (OTI) Bonds and Customs (CBP) Bonds to give the protection needed to either you or your client. Our unique BondASSIST enables smaller companies to obtain Bonds without giving personal guarantees.
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Why choose ANOVA Bonds?
- All of ANOVA’s bonds are offered at competitive rates with a simple application process, making it easy for you to apply.
- Our friendly and knowledgeable multilingual staff include trade attorneys and freight forwarders, here to help you navigate the complexities.
- For smaller clients, our unique BondASSIST can help you to obtain a Bond without a personal guarantee or collateral.
If you are a freight forwarder or NVOCC handling cargo to or from the United States, the Federal Maritime Commission (FMC) insists that you prove your financial responsibility by taking out an Ocean Transport Intermediary (OTI) license, even if you are only acting as an agent of another NVOCC.
ANOVA Standard OTI Bonds
With ANOVA, you can apply for traditional OTI bonding at competitive rates.
We are the only provider that allows small companies to avoid the need to show financials, provide collateral, or place a Letter of Credit. If you have a Freight Liability policy with ANOVA, you may be eligible to obtain your OTI Bonds through a simple questionnaire.
ANOVA Customs Bonds are categorized into 12 Activity Codes designed to cover specific situations and types of goods common in international trade. Some Activity Codes may be written as either a Single Transaction Bond covering a specific customs transaction or a Continuous Self-Renewing Bond which covers all customs transactions through a particular port of entry.
Continuous Transaction Bond (CTB) or Importer Bond
The most common kind of Customs Bond, this guarantees that as an importer of merchandise, you guarantee to pay the government duties in the proper amount and that the goods imported are in compliance with the laws of the United States.
You can choose either a Single Transaction or Continuous Bond.
Bond for Accelerated Payment or Drawback
If you import merchandise into the U.S. and later export it, you 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.
Custodian of Bonded Merchandise
This 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, as a bonded warehousemen you are required to guarantee the custody of freight while stored under customs supervision until withdrawal for consumption. Domestic common carriers must guarantee the custody of bonded goods while being transported from one customs district to another. A Custodial Bond may only be written as a Continuous Bond, filed in the applicable or local port.
International Carrier Bond
These Bonds 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.
ANOVA offers a wide variety of additional Bonds with very competitive pricing. Our most common Bonds are listed below. If you need something else, we may still be able to help, so do please contact us:
- Yacht Broker / Yacht Salesperson Bonds
- Alcohol Importer Bonds
- Performance Bonds
- Bid Bonds
- Contract Bonds
- Professional Licensing Bonds
- Agricultural Bonds
- Talent Agency Bonds
- Dance Studio Bonds
- Hunting and Fishing Facility Bonds
- Venomous Reptiles Bonds