In this industry, we obviously talk a lot about cargo. I mean, it is kind of what we do in the logistics industry. No matter what that cargo consists of, we get it moved from one location to another to keep the world as we know it in motion. But there are many types of cargo out there and one such classification you may expect to run into with international shipping is cargo transported by a bonded carrier. If you are not familiar with it, the import process with the U.S. government can be very complex. How does bonded cargo differ from other cargo types with customs regulations with a standard bill of lading? In this article, we are going to explore just that.
With a customs bond, bond shipment, or bonded cargo, we get into the complex nature of taxes, tariffs, and warehousing. One major factor is determining which goods you’ll be responsible for paying taxes or customs duties on, and which will not at the point of entry. This is important to take into consideration to keep the system in place efficiently while also ensuring that taxable goods are not being missed. Shipments that are bonded are typically passing through the U.S.
Bonded carriers are able to bring a load of goods through the United States without paying duty or customs release while crossing the border or having to release the shipment at the receiving point. Here clearance is granted through a bond. A bond is essentially a permit that allows freight shipping through the U.S.
Different from a bonded load, non-bonded cargo holds a final destination within the United States and will be required to pay all taxes and fees before being released to its final destination.
A regular carrier without a bond must release the shipment at the receiving point, while the bonded carrier can move the freight to an installation away from the border or port of entry. This is where it will receive the customs release once the shipments clear customs and then can be carried through the United States.
Since bonded carriers can speed up the importing / exporting process of your freight with their ability to keep moving through a customs bonded warehouse, you can save considerable time and money by going this route. In addition to this, they can assure you that shipments are always in compliance with border protection and U.S. customs department.
When sending international shipments, you are normally dealing with substantial costs between the goods themself and the cost of shipping. Because of this, you want to make sure that you are using a trusted and reliable importer or exporter and customs broker that will not only take care of the shipment properly. You will want this to be someone that knows and will follow all the laws to keep your goods compliant and on time for delivery and that are properly licensed to do so.
Take a little extra time to do your research on the companies you choose for these loads to make sure that you are putting your best foot forward in this part of the process.
The industry is full of questions but TAFS’ trucking experts have the answers you need. Give us a call today 913-393-6110