What does Custom Bond mean? Read on to discover the definition & meaning of the term Custom Bond - to help you better understand the language used in insurance policies.
Bond required by the U.S. Customs Service that guarantees the payment of duties or taxes due by law on all goods directly or indirectly imported or exported to or from the United States as well as the reporting of statistical data relating to the shipments involved. The bond may be issued on either a single or a continuous form.
We hope the you have a better understanding of the meaning of Custom Bond.