CBLE CBLE Bonds and Surety Requirements 2

Question 1

A licensed customs broker must maintain a bond with CBP in what minimum amount?

Accepted Answer

$50,000

Answer

Under 19 CFR Part 111, a licensed customs broker is required to maintain a $50,000 continuous bond as a condition of licensure.

Question 2

Under what authority does CBP require importers to post a bond?

Accepted Answer

19 U.S.C. § 1623

Answer

19 U.S.C. § 1623 grants CBP the authority to require bonds to secure compliance with customs laws and payment of duties.

Question 3

What is an 'in-bond' shipment?

Accepted Answer

Goods moving through U.S. customs territory without formal entry under a bond

Answer

An in-bond shipment moves through U.S. customs territory under a transportation and exportation or immediate transportation bond without paying duties at the point of arrival.

Question 4

If an importer cannot pay duties owed, what recourse does CBP have against the surety?

Accepted Answer

CBP can demand payment from the surety up to the bond amount

Answer

The surety is jointly and severally liable with the principal up to the bond amount, so CBP can demand payment from the surety if the principal defaults.

Question 5

Which type of bond covers multiple entries over a 12-month period?

Accepted Answer

Continuous bond

Answer

A continuous bond remains in force for a 12-month period (renewable annually) and covers all entries made by the principal during that period.

(CBLE) Customs Broker License Exam Practice Test

(CBLE) Customs Broker License Exam Practice Test

CBLE CBLE Bonds and Surety Requirements 2