CARM: What all importers need to know about CARM

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Terminology

C

Continuous Bond

A bond used by importers that have multiple importations annually into the USA and want to take advantage of the cost savings versus a single entry bond.

ISF filings are covered by the same Continuous Surety Bond. There is no need for a separate bond per filing. An annual bond is valid for a one-year period and renews automatically until cancelled or revoked.

The minimum bond amount for continuous bonds is generally $50,000. For importers, the minimum continuous bond amount is $50,000 or 10 percent of the total taxes and fees paid in the previous 12-month period, whichever is greater. Please note that all bond amounts will be rounded up to the next whole dollar amount in multiples of $1,000.

Continuous Bond premiums are assessed at a flat yearly rate, regardless of the number of imports/ISF filings during the period.

Single Entry Bonds cannot be allocated to a Continuous Bond at a later date and fees paid cannot be applied to a future Continuous Bond.

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