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Customs Bond, Shipping Insurance, Direct Filing, HTS Solutions from TRG



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Importer Security Filing

Two Birds One Bond

Importer Security Filing goes into effect January 26th. U.S. Customs and Border Protection has outlined the bonding requirements to cover ISF filings in the Federal Register.
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Importer Security Filing is fast approaching. By now you should be familiar with 10+2 filing requirements and have a plan in place to comply with U.S. Customs this coming January. Beyond the filing requirements what does this mean for U.S. Customs bonds? After the one year informed compliance period of importer security filing ends, Customs and Border Protection will begin enforcing compliance in the form of liquidated damages. These damages will be $5,000 for each ISF violation.

Kill Two Birds With One Bond

Importer Security Filings will be secured with a continuous bond. The following bonds have been amended to cover these requirements. For the first year of implementation fines and penalties will not be assessed to the bond. An increase in the Customs bond is not required at this time. After CBP’s structured review of importer security filing bonding requirements may be amended.
  • Import bonds
  • Custodial bonds
  • International Carrier bonds
  • FTZ Operator bonds
CBP has also issued a new bond referred to as the Importer Security Filing bond. This continuous bond will also cover ISF entries.

Do You Still Import Using Single Entry Bonds?

Those importers who continue to import using single entry bonds will need to purchase the new continuous ISF Bond. TRG offers the most economical solution for Importer Security Filing to those companies importing under single entry bonds. Purchase one continuous bond to cover BOTH the ISF filings and the consumption entries.

TRG has created a presentation outlining 10+2 Importer Security Filing. Download your complimentary copy and stay informed.
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Trade Risk Guaranty (TRG) Brokerage Services LLC is a licensed insurance agency, having agency agreements with Hanover Insurance Company of Worcester, Massachusetts and Hudson Insurance Company of New York, New York, both of which are insurance companies approved by the Department of the U.S. Treasury to issue U.S. Customs bonds.

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