Meaning of “customs bond” in the English Dictionary

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"customs bond" in Business English

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customs bondnoun [ C ]

uk us TAX, COMMERCE

a type of insurance that someone who is importing goods must have, in which they promise to pay any necessary taxes and obey the rules for importing goods:

Every importer should educate themselves on the US Customs bond.

(Definition of “customs bond” from the Cambridge Business English Dictionary © Cambridge University Press)