eBond: The Future of Bonds in ACE
- A June 2011 Department of Homeland Security (DHS) Office of Inspector General ( OIG) report cited bond execution errors, deficiencies in bond retention, and other issues that challenge CBP’s ability to collect on STBs
- Enhances CBP’s ability to report to Congress or Treasury on key inquiries regarding bonds
- Protects CBP by informing CBP Officers that a valid bond has been secured before cargo is released into commerce
What is eBond?
- An electronic mechanism for the submission of Customs Bonds from a Surety or Surety Agent to ACE via Electronic Data Interface (EDI) to be stored and used for various downstream processes for which a bond is required
- Single Transaction Bonds and Continuous Bonds will be accepted electronically
- Eliminates the mandatory paper requirement when a Single Transaction Bond is used to secure Cargo Release
- Provide a single, centralized repository for all customs bonds within CBP
What are the benefits of eBond?
- Provides 24×7 capability for submission of bonds and processing of entries through EDI
- Standardizes the way CBP interacts with the Trade across ports
- Provides a single repository for all bonds – continuous and single transaction
- Enables CBP Officers to focus on trade and law enforcement mission and reduces the burden on Entry and Import personnel
- A major step in responding to the recommendations from the OIG Audit in June 2011
We went behind the scenes with our own Internal Compliance Analyst, Tia Tenbrink. Tia has been processing US Customs Bonds with Scarbrough for over 15 years. Let’s see what she has to say:
What was your experience with the new eBond application?
My experience was great! eBond definitely makes processing bonds quick and easy!
How long did it take?
The bond was approved by Customs in about 5 seconds! It was practically instantaneous!
What are 5 crucial pieces of information you need from Importers to ensure a fast processing experience?
- Complete name including dba name
- Correct Business Types (Corp, LLC, Partnership, Self Proprietorship, Individual)
- EIN/SS #/Customs Assigned Number
- Complete Address including City, State and Zip
- Estimated Amount of Duties, Taxes, and Fees to be paid in a 12 month period
There you have it, folks. Want to purchase a U.S. Customs Continuous Surety Bond?
As long as you provide the required information, we can take care of you in a matter of “seconds.”
Please email firstname.lastname@example.org and we will take care of you today.
You can also download the Bond Application here.