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Ally bind ourselves, our respective heirs, executors, administrators, successors and assigns in the amount stated below unto Her Majesty in right of Canada, her heirs and successors. We, the principal, further acknowledge that we are required to furnish and maintain security in the amount noted. 1. Activity to be secured Relevant legislative authority Bond amount (in words) dollars ($ ) 2. Legislative authorities Customs Brokers Licensing Regulations Transportation of Goods Regulations Cu.

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A Customs bond is a legal contract between a principal (importer or shipper), a Surety company, and CBP that guarantees the importer complies with Customs regulations and that CBP is paid for applicable import duties, taxes, fines and penalties.

In most cases, the amount of the bond must be at least 10% of the total duties and taxes paid to CBP annually at a minimum of $50,000. The typical Import bond amount is $50,000. This means that the duties, taxes, fines, and penalties the Insurance/Surety Company will cover within each 1-year bond term is $50,000.

Each shipment requires its own SEB (single entry bond). The minimum charge of this bond is USD 75.00, and is based on $7.50 USD per $1,000 USD FOB value+duty/fees.

The D120 Customs Bond is a financial security that importers and Customs Brokers place in order to secure the duties and taxes owed to CBSA if they intend to release their goods at the border prior to the payment of those duties and taxes.

There are two types of customs bonds: single-transaction bonds (aka single-entry bonds or SEBs) and continuous bonds. SEBs cover a one-time entry, while continuous bonds are renewable and cover multiple ongoing entries at all US ports of entry until one year from the date they are issued.

A Canada Customs Bond (form D120) is a surety bond posted for the benefit of the Canada Border Services Agency (CBSA) to guarantee compliance with a law or regulation – essentially to guarantee CBSA will get paid.

Type 2 Custodial bonds provide a financial guarantee that the individual or company transporting the goods (the “Custodian”) will not enter the merchandise into the US without paying customs duties.

The calculation for a Continuous Bond amount is the estimated total duties, taxes, and fees for the previous or next 12 months (whichever is greater), multiplied by 10%. Round up to the nearest $10,000 to get the total bond amount. The minimum Continuous Bond amount for import bonds is $50,000.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232