Bond Product
Customs Bond
Surety undertakings required by the Bureau of Customs for regulated import and transit transactions.
Overview
Customs bonds secure compliance with customs laws and regulations on transactions such as warehousing, transit, temporary importation, re-export commodity, and release under tentative liquidation.
The required form, amount, and wording are prescribed by the Bureau of Customs for each transaction type.
Purpose
- Secures payment of duties, taxes, and charges that may become due.
- Allows release or movement of goods pending final assessment or re-export.
- Evidences compliance with the conditions attached to a customs privilege.
Who needs this bond
- Importers and consignees under regulated import regimes
- Customs brokers filing on behalf of importers
- Warehouse operators and locators moving goods under bond
- Companies importing equipment temporarily for a project
Typical requirements
- Accomplished bond application with obligee and contract details
- SEC or DTI registration, Articles of Incorporation or business permit
- BIR Certificate of Registration and latest tax return
- Audited financial statements for the last two to three years
- Valid government IDs of signatories and board or partnership authority
- Copy of the obligee's bond requirement, invitation to bid, or contract
- 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.
Application process
Step 1
Submit the application
Open an application in your SuretyPH portal and enter the obligee, contract, 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 refer it to a participating licensed 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 settled, the insurer issues the bond for release or delivery.
Frequently asked questions
Which customs bond do I need?
It depends on the transaction. Send us the customs form or requirement and we will match it to the correct bond before endorsement.
Are customs bonds renewable?
Several are transaction-specific, while others are posted annually. The Bureau's requirement governs.
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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.