Roanoke Offers New Bond Sufficiency Calculator
Roanoke Trade released an online bond sufficiency calculator to help "determine the appropriate continuous customs import bond amount," the surety said in a blog post. Bond sufficiency issues have increased in recent months and are expected to continue due to the new tariffs (see 1808210029). The calculator can help importers predict bond sufficiency levels before CBP issues mandated bond increase notices. CBP issued 2,300 such notices in September, Roanoke said. The agency would typically issue fewer than 200 a month before the new tariffs were put in place, the surety said.
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CBP continually measures bond sufficiency based on the prior year of activity, Roanoke said. "The bond amounts required by CBP are necessarily calculated on past activity, but these amounts could still be deficient for the future 12 months," the company said. "This means that if you rely on CBP to determine the correct bond amount, you may receive multiple increase demands in a 12 month period, causing you the frustration of time wasted on bond replacement, additional premium charged, and multiple saturated bond terms complicating your underwriting process. Furthermore, bonds with high amounts often require special underwriting approval, so quick action is important, and being proactive is essential."