What is a ISF Bond? Are they required for my ISF Filing?
For new importers who have just learned about the need to file the ISF from their seller. Some questions they may have before they start to file the ISF, is that are ISF Bond required for my shipment? And what are ISF Bonds? ISF Bonds are financial guarantees required by U.S. Customs to be part of each ISF Filing which in the event of penalties issued due to late or erroneous filings, the importer would be required to pay the ISF fines and penalties issued, in the case of default by the importer to pay, the ISF Bond surety company would be the party to pay customs. In the case if the surety pays any fines on behalf of the importer, the surety would take legal action to obtain the loss incurred. Therefore ISF Bonds are required for each ISF Filing whether or not a fine or penalty is issued, this is required by U.S. Customs to have a ISF Bond attached to the ISF Filing.
Importers who use the Live ISF Form can submit the ISF Filing Online for $95 which is both the ISF Filing Fee and also includes the cost of the ISF Bond for one flat rate.
ISF Bonds on the open market can range anywhere from $50-$100, or more charged by private brokers or bond companies and is used only for single shipment ISF Filings.
Here at ISF-FILING.COM, our ISF Filing Fee of $95 also includes the ISF Bond at time of filing. Feel free to contact or call us if you need help with your ISF Filing or any questions regarding this topic on ISF Bonds.