If you are selecting a bond for import, you have a number of options available. You will likely be able to determine its limit, the port it will be used at and whether it will be single or continuous entry. The latter of these, the entry period, affects when and how many times you may use your bond. As the name suggests, single entry options are good for only one shipment, and continuous entry bonds can be used many times throughout the year.
What Benefits Does Each Type Offer?
There is more to consider than just frequency of use when making this choice. Each type of bond offers its own benefits, including the following:
- Single-entry bonds are more affordable that the alternative
- Continuous entry bonds may have high limits than single-entry
- Continuous entry bonds can also be used for security filings
- Conduct Business Safely and Efficiently
Regardless of which importation bond you select, you can rest assured that it will provide the protection you need for safe business. You will benefit from expedited possession of goods as well as the guarantee that goods will be received. In turn, the port authority will have insurance that all fees and taxes are paid. It is a benefit to every party in a merchandise transaction.