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What a Surety Bond Company Does
Once the goods are imported in United States the importer
having the responsibility of making the goods available
for the inspection, and ensuring that all the labeling
and packaging specifications have been met, making transaction
records presented for audit and paying estimated or
else additional duties as well as fees, where applicable.
It is the surety company issuing the bond that promise
that the importer will comply with U.S. Customs regulations.
The surety company will be called on for imbursement
when the importers cannot or will not fulfill their
responsibility to the United States government. In turn,
the surety company is responsible to full recovery of
whichever loss from the importer. If the importers not
make the grade to honor the conditions set forth in
the bond, the surety company can be constrained to do
so in the importer's place.
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