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Type 2 Custodian bonds, also known as Activity Code 2 – Custodian of Bonded Merchandise Bonds, are useful in a wide range of circumstances. They are needed in order to establish a Customs Bonded Warehouse. Truckers with an Activity Code 2 bond can pick up and transport goods from one bonded facility to another. A Canadian importer who receives goods at a US port can arrange to transport goods to Canada, without paying US customs duties. And a US importer can move merchandise from an FTZ to a bonded warehouse without paying duties until they “enter” the marketplace. If the importer exports the goods without ever entering them into the marketplace, then duties can be avoided altogether.
Who may need an Activity Code 2 – Custodian Bond?
What is an Activity Code 2 – Custodian Bond?
An Activity Code 2 – Custodian of Bonded Merchandise bond is required for an individual or company that transports, handles or warehouses “in-bond goods” (cargo that has not yet entered the US marketplace). It provides a financial guarantee that the CBP is immediately paid, once goods are removed from a bonded facility and “enter” the US.
What size Activity Code 2 – Custodian Bond will I need?
The amount of bond required varies and is determined by the Port Director where you apply, upon approval of your application. The minimum bond amount is $25,000. As one of the largest Customs bond providers in North America, we’ll get you the right bond at the best price.
DB Schenker has over 150 years of experience. Once you’re ready, we’ll help you obtain approval from CBP and get you bonded. And since we’re one of the largest Customs Bonds providers in North America, we’ll make sure you get the best bond at the very best price. Simply put, we make Customs compliance easy!
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