80% people don't understand IOR and BOND, and the first step of US customs clearance is wrong!

It's amazing how many cross-border e-commerce sellers don't even know the basics of U.S. customs clearance! If you want to import goods into the U.S., there are two key terms you must know: IOR (Importer of Record) and BOND. Simply put, the IOR is the importer's identification card, which is responsible for the record and compliance of the imported merchandise; and the BOND is a kind of "bond" to ensure that you comply with the regulations and pay the necessary fees.

In the cross-border e-commerce business chain, cross-border logistics is an essential link. Cross-border logistics refers to the process of transporting goods from one country or region to another by sea, land or air across borders, and completing international commodity transactions through local distribution. However, even if your logistics arrangement is perfect, without proper handling of IOR and BOND, your goods will not be able to pass through the U.S. Customs!

What is an IOR? An IOR (Importer of Record) is the import identification information that U.S. Customs requires from the importer or his agent.The purpose of an IOR is to tell Customs: Who is responsible for this shipment? Who pays the duty? Who ensures that the shipment complies with regulations? If there is a problem with the shipment, Customs will call the IOR. Depending on the situation, the IOR may be a U.S. domestic company (with its own Customs Registration Number or Corporate Tax ID or Employer Identification Number) or a non-U.S. domestic company (which is required to provide an Importer Record of No. and to designate an "ultimate consignee").

BOND is a "security deposit" required by the U.S. Customs to be purchased by importers. Its main function is to comply with the regulations (U.S. Customs Regulation CFR19, Part 141), to protect the rights of the government/customs, to reduce the risk of imports, and to improve the efficiency of customs clearance. Without BOND, even if your ISF declaration is complete, the Customs will not accept it and may even fine you.

There are two common types of BONDs: Single BONDs (for merchants who import once or twice a year, costing about $150) and Annual BONDs (for merchants who import multiple times a year, costing about $600-$800).

To provide a Customs filing importer, you will need to provide the legal name of your company or import agent, along with complete contact information, Economic Operator Registration and Identification (EORI) number and VAT registration number of the importing country/region.[4] Before shipment, you should ensure that your company or agent can fulfill all the requirements for importing goods in the destination country/region.

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