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CBP requires that all importers have an import bond in order to clear entries through Customs. An importer may file a “Single Entry” import bond or a “Continuous” import bond depending on their import frequency.

What is a Customs Bond-

A Customs bond is a financial guaranty between 3 parties: the Insurance/Surety company issuing the bond, the Principal (who is required to file the bond), and Customs & Border Protection (CBP). The Customs bond guarantees CBP the bond amount, from the Insurance/Surety Company. Bonds also indemnifies the Insurance / Surety Company, allowing them to use any legal means to collect from the Principal any monies that were paid to CBP on the Principal’s behalf.

Helpful links:

https://help.cbp.gov/app/answers/detail/a_id/734/~/when-is-a-customs-bond-required