Customs Bond
/ˈkʌstəmz bɒnd/
Definitions
- (n.) A legal agreement securing the payment of duties, taxes, or penalties imposed on imported or exported goods by customs authorities.
The importer provided a customs bond to ensure payment of all applicable duties.
Forms
- customs bond
- customs bonds
Related terms
See also
Commentary
Customs bonds are commonly used to guarantee compliance with customs regulations and payment obligations; drafting should clarify the parties’ responsibilities and conditions triggering forfeiture.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.