Customs bonds
Temporary Importation Under Bond (TIB)
Temporary importation under bond (TIB) lets eligible goods enter without duty if the importer exports or destroys them in time, generally within one year.
What does Temporary Importation Under Bond (TIB) mean?
A TIB is a temporary importation under bond, not for sale, without payment of duty. The goods must be exported or destroyed within a period that cannot exceed three years from the date of importation.
Only goods in the fourteen HTSUS subheadings 9813.00.05 through 9813.00.75 qualify. Examples are articles for repair, alteration or processing, samples for orders and professional equipment.
The first period is one year. CBP can extend it for up to two more periods of one year each, on CBP Form 3173 (19 CFR 10.37).
The bond is generally double the estimated duties and fees, or 110 percent for some goods such as samples and professional equipment (19 CFR 10.31). If the goods stay too long, CBP demands liquidated damages (19 CFR 10.39).
What does it mean for your shipment?
Keep proof of export for every TIB article, and request the extension before the period ends. An ATA carnet can be an alternative for some goods.
Allied CHB, licensed customs broker, CBP filer code 9AJ.
Where does this come from?
Read more on this site
All glossary terms · General information, not legal advice.