Customs transport bond secures legal compliance and duty recovery for goods moved through foreign territory under authorised transit operations. A Single/General Bond for transport of goods through foreign territory requires the obligor to comply with customs law and the rules governing the goods. ... Summary
Customs transport bond secures legal compliance and duty recovery for goods moved through foreign territory under authorised transit operations.
A Single/General Bond for transport of goods through foreign territory requires the obligor to comply with customs law and the rules governing the goods. Upon failure to discharge its obligations, the obligor must pay the duty chargeable together with applicable interest, fine and penalties. The bond also requires compliance with foreign trade, foreign exchange and other applicable laws. A General Bond schedule records transit declarations, goods value, bond debits and credits, the remaining bond balance, and officer certification.
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