What is Bonded Cargo?
Bonded cargo refers to goods for which U.S. customs duties and taxes have not yet been paid. These goods are stored under customs supervision, often in a bonded warehouse, or transported by a licensed bonded carrier to a different facility within the country or to a final destination in another country.
What does Traveling In-Bond Mean?
A bonded shipment is one that reaches its final destination country via one or more ancillary countries. Since it won’t be consumed or used in any of the countries traversed along the way, bonded cargo doesn’t officially undergo customs clearance until it reaches its destination country.
As a result, all taxes, duties, and fees associated with a bonded shipment’s import are delayed until its terminal arrival.
What Kind of Cargo Can Be Shipped In-Bond?
- Containerized cargo
- Breakbulk cargo
- Roll-on/Roll-off cargo (RoRo)
What Documents are Needed for In-Bond Freight?
- In-bond application
- Customs Bond
- CBP Form 7512
- Commercial invoice
- Bill of lading
- Packing list
What is CBP Form 7512?
This document, which is crucial to bonded cargo transportation, outlines:
- When freight will enter the U.S.
- Where it will enter the U.S.
- How freight will reach its final destination
- Who the consignee of all goods are
- Which foreign ports/entrances it will interact with
- Estimated departure/export dates