Customs bond: Difference between revisions
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imported>Doug Williamson (Classify page.) |
imported>Doug Williamson m (Amend wording.) |
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''Trade finance.'' | ''Trade finance.'' | ||
A customs bond is a guarantee supplied by an importer in favour of | A customs bond is a guarantee supplied by an importer in favour of a revenue authority, for example HM Customs & Revenue in the UK. | ||
The customs bond is issued by a bank or insurance company in favour of the revenue authority. | The customs bond is issued by a bank or insurance company in favour of the revenue authority. | ||
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* [[Bid bond]] | * [[Bid bond]] | ||
* [[Bond]] | * [[Bond]] | ||
* [[Customs duty]] | |||
* [[Duty]] | * [[Duty]] | ||
* [[Guarantee]] | * [[Guarantee]] | ||
Revision as of 12:50, 8 April 2021
Trade finance.
A customs bond is a guarantee supplied by an importer in favour of a revenue authority, for example HM Customs & Revenue in the UK.
The customs bond is issued by a bank or insurance company in favour of the revenue authority.
It guarantees that the import duty on imported goods will be paid, enabling the business to import and distribute goods before payment of the import duty.
Also known as a customs guarantee.
