Role of the Surety Company

What a Surety Bond Company Does

Once the goods are imported in United States the importer having the responsibility of making the goods available for the inspection, and ensuring that all the labeling and packaging specifications have been met, making transaction records presented for audit and paying estimated or else additional duties as well as fees, where applicable. It is the surety company issuing the bond that promise that the importer will comply with U.S. Customs regulations. The surety company will be called on for imbursement when the importers cannot or will not fulfill their responsibility to the United States government. In turn, the surety company is responsible to full recovery of whichever loss from the importer. If the importers not make the grade to honor the conditions set forth in the bond, the surety company can be constrained to do so in the importer's place