CBLE CBLE Bonds and Surety Requirements

Question 1

What is the minimum continuous bond amount required for importers who import goods subject to antidumping or countervailing duties?

Accepted Answer

Three times the total duties, taxes, and fees paid in the prior year

Answer

$50,000

Answer

10% of the value of goods imported

Answer

$100,000

Question 2

Which CBP form is used to file a customs bond?

Accepted Answer

CBP Form 301

Answer

CBP Form 7501

Answer

CBP Form 3461

Answer

CBP Form 28

Question 3

What is the standard minimum continuous bond amount for importers who pay less than $10,000 in duties annually?

Accepted Answer

$10,000

Answer

$5,000

Answer

$50,000

Answer

$25,000

Question 4

A single-entry bond must be in an amount equal to at least what percentage of the total entered value?

Accepted Answer

10%

Answer

5%

Answer

15%

Answer

20%

Question 5

Who are the three parties to a U.S. customs bond?

Accepted Answer

Principal, surety, and CBP as obligee

Answer

Importer, exporter, and CBP

Answer

Broker, carrier, and importer

Answer

Manufacturer, broker, and CBP

Question 6

What happens to a surety's liability under a continuous bond when CBP terminates the bond?

Accepted Answer

Liability continues for entries made before the termination date

Answer

Liability ends immediately upon termination

Answer

The surety must post a replacement bond

Answer

Liability is transferred to the importer only