U.S. Customs Activity Code 3 International Carrier Bond
What Is an Activity Code 3 International Carrier Bond?
The Activity Code 3 International Carrier Customs Bond is required by operators to ensure that the manifest of all goods and passengers carried is accurate. The Activity Code 3 International Carrier Customs Bond is also used to ensure payment of overtime to Customs Officials. The clearance of vessels, vehicles or aircraft originating from any location outside of the United States is also covered by this bond. The Activity Code 3 International Carrier Customs Bond has a minimum bond amount of $25,000 and can go up to $250,000 for shipments originating from high-risk drug areas.
A customs bond's most common function is to allow an importer to take prompt possession of its imported goods without having to wait for all of the Customs & Border Protection regulations and formalities.
Another typical usage of a customs bond allows a carrier to transfer goods that are bonded from one place to another, even if those goods are not yet processed through with duties paid.
Who Needs A Customs Bond?
Every party that imports products into the U.S. for commercial reasons, or that transports or carries imported goods through the U.S., must have a customs bond in place.
The parties who need to get a customs bond can be importers of goods, transporters of goods, brokers, foreign trade zone operators, bonded warehouse proprietors, or other parties that engage in business with the U.S. Customs & Border Protection.
The beneficiary of the import bond is always the U.S. Customs & Border Protection.
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Novus Bonds offers an U.S. Customs Activity Code 2 Custodian of Bonded Merchandise Bond with a 99% approval rate.
Note: The Customs Bond only covers U.S .Customs duties and taxes as well as ISF penalties. It does not protect the value of the imported cargo.
Due to the high risk of loss in the importing industry, the application for a Customs Bond requires more information than for other bonds. Keep in mind that, when applying for the first time or when processing a yearly renewal, it is wise to begin as soon as possible. Failure to obtain a new bond or renew an existing bond on time can result in fines and/or lost business.
There is some additional information required on customs apps. Please note that we will also need you SCAC code, the effective date of your bond, a copy of the $50 check written to U.S. Customs along with a copy of the approval letter from U.S. Customs issued to you.
1. Our applications are all that's usually needed to get you a price.
2. Occasionally, more information is needed. If so, we will contact you within 24 hours.
3. If you have credit issues, approvals might need an additional day.
4. We never require an application fee. All quotes are 100% free.
5. Bond approvals, like loans, are based on personal credit, financial strength of the owner, bond amount and type of bond. The more information you provide, the better chance you have of getting the lowest available price and a faster approval.