Commercial Surety Bonds
Customs Bond
Surety undertakings required by the Bureau of Customs for regulated import and transit transactions.
Overview
Customs bonds secure compliance with customs laws on transactions such as warehousing, transit, temporary importation, re-export commodity, and release under tentative liquidation.
The form, amount, and wording are prescribed by the Bureau of Customs for each transaction type.
Purpose
- Secures duties, taxes, and charges that may become due.
- Allows release or movement of goods pending assessment.
- Evidences compliance with a customs privilege.
Typical uses
- Warehousing and transit entries
- Temporary importation of project equipment
- Re-export commodity transactions
Who normally requires it
- Importers and consignees
- Customs brokers filing for importers
- Warehouse operators and ecozone locators
Parties involved
- Principal — the business or individual required to post the bond
- Obligee — the government agency, regulator, or private party protected
- Surety — the authorized Philippine insurance company that issues the bond
Typical documentary requirements
- Accomplished bond application form with obligee and transaction details
- SEC or DTI registration, Articles of Incorporation, or business permit
- BIR Certificate of Registration and latest filed tax return
- Audited financial statements for the last two to three years
- Valid government IDs of signatories and board or partnership authority
- Import documents such as bill of lading, invoice, and packing list
- Bureau of Customs accreditation and the applicable bond form
Final requirements depend on the obligee and the issuing insurance company. See the full requirements guide.
Typical application process
Step 1
Submit the application
Open an application in your SuretyPH portal and enter the obligee, transaction, and bond details.
Step 2
Upload requirements
Follow the guided checklist and upload each document securely to your application file.
Step 3
Pre-assessment
We review the file for completeness and endorse it to an authorized issuing insurance company.
Step 4
Quotation
The insurer evaluates the submission and issues a quotation covering premium, fees, and any collateral requirement.
Step 5
Payment and issuance
Once the quotation is accepted and the premium is settled, the insurer issues the bond for release or delivery.
Risks typically covered
- Unpaid duties, taxes, and charges
- Non-compliance with conditions of release
- Failure to re-export within the allowed period
Frequently asked questions
Which customs bond do I need?
It depends on the transaction. Send the customs form or requirement and we will match it before endorsement.
Are customs bonds renewable?
Several are transaction-specific; others are posted annually. The Bureau's requirement governs.
More answers on premiums, collateral, and timelines are in the general FAQs.
Related bond products
License and Permit Bond
Bond required by a government agency or LGU as a condition for a license, permit, or accreditation.
Tax Bond
Security for tax obligations, assessments, or excise-related requirements.
Indemnity Bond
Undertaking to indemnify an obligee against loss arising from a specified act or omission.
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SuretyPH is a digital information and lead-generation platform owned and operated by McMatthise Global Group Corporation. It does not independently underwrite, approve, bind, issue, or guarantee any insurance policy or surety bond. Evaluation, underwriting, premiums, approval, and issuance remain the responsibility of the relevant duly licensed insurance company.