A Single Transaction Bond (STB) for an Import Entry Filing (IEF) is required for one-time import shipments to ensure compliance with U.S. Customs and Border Protection (CBP). The cost of an STB depends on factors such as the declared commercial value, estimated duties, and any applicable Anti-Dumping or Countervailing Duties (AD/CVD). pCustoms simplifies this process by enabling users to automatically calculate the estimated bond cost before submitting an IEF filing. Let's dive into this step-by-step guide on how to determine the estimated cost of a Single Transaction Bond for IEF filings in pCustoms, ensuring accuracy and transparency in customs compliance.
Step 1: Go to the Single IEF Bonds module
You need to click the "Bonds" drop-down at the left navigation bar:
Then, click on the "Single IEF":
Step 2: Fill out the details
Now, it's time to fill out the details of your import entry to calculate the applicable single transaction bond cost. You need to enter the following data points:
Transportation mode (ocean, air, truck)
Commercial value
PGA controlled status
Duty percentage (if PGA controlled)
The transportation mode is by which cargo enters the first port of entry in the US. Choose one of the options below accordingly:
The commercial value is the merchandise value in USD as per the commercial invoice if separate from freight cost:
The PGA-controlled means that your cargo is subject to examination or review by Partner Government Agencies (PGAs) such as FDA, NHTSA, DOT, EPA, or USDA other than CBP:
One of the places you can check if your cargo is subject to PGA examination is to see the PGA forms list on the CBP website here to see if your cargo has to be declared with one of those PGA forms or by checking individual PGA's import guidance website, like for an example for FDA here or NHTSA here.
If your cargo is not subject to PGA, you also need to enter the estimated duty percentage for your cargo:
You can check the current duty rates for your product here in the US International Trade Commission's HTS portal.
Step 3: Submit the form and review your cost
Once you enter all the details mentioned above, then click the "Calculate" button at the bottom:
Then, you will see the bond amount and bond price in the below format:
The bond amount is the value that you are required to have coverage for your import if you will be using a single transaction bond.
The bond price is the estimated cost for which our surety will provide you with a single transaction bond to cover the above amount for your specific import.
If you want to update the details above to get bond values for a different shipment, please click "Calculate" to calculate the new value with new details once you finish updating the details.
Calculating the estimated cost of a Single Transaction Bond (STB) for an Import Entry Filing (IEF) in pCustoms ensures transparency and accuracy in customs compliance. By entering key shipment details such as transportation mode, commercial value, PGA-controlled status, and duty percentage, users can instantly determine the required bond amount and cost. The system allows for quick recalculations, ensuring that importers can adjust their filings as needed. With real-time estimated bond pricing calculation, pCustoms simplifies the process, enabling users to make informed decisions and ensure smooth customs clearance.