Skip to content
Shipping Terms

Customs Bond

Shipping containers

In any country, cargo must be cleared by customs authorities before release.

When cargo is cleared, customs usually levy a certain amount of tax and duty on imported products.

Sometimes, the importer may not have the funds to pay the duty fully and clear the goods. This means the cargo could be stuck in the container, incurring demurrage and port storage if not removed in time.

In cases like that, the importer can clear the goods under bond, which effectively means they promptly agree with customs to pay duties and taxes.

← Back to Index 

Say goodbye to freight rate uncertainty with real-time data

Every second, our platform processes 450M+ data points from the world's largest shipping companies for unmatched, real-time market intelligence.