In the complicated world of importing, an import bond is often perceived as a mere financial instrument needed to comply with the regulations of U.S. Customs (CBP). However, when you work with Avalon Risk Management, their bond program provides much more than just access to a bond. Avalon’s program is a comprehensive solution designed to ensure compliance, streamline processes, and provide peace of mind for Customs Brokers and their importer clients.
The Complexity of Importing
It is essential to work with a surety provider who understands the intricacies of the industry and has the innovative technology to ensure compliance. Avalon acts as a Managing General Agent for our surety programs and writes approximately 35% of all continuous bonds on file with CBP.
Our regional service teams are well-versed in Customs issues and are dedicated to working closely with you and your importers throughout the underwriting process. For example, they can explain bond stacking and the importance of monitoring AD/CVD activity. They can also explain the necessity of properly forecasting duties to avoid bond insufficiencies. With the recent expiration of 60% of the 301 Tariff exemptions and the potential for new 301 tariffs on Chinese goods to be implemented subsequent to the recent presidential election, importers need to be prepared for a spike in bond insufficiencies. Consulting with an Avalon expert on Customs bond issues can provide the guidance and resource that you need.
Innovative Technology
Do you have access to cutting-edge tools that allow you to issue new bonds and manage your Customs bond renewals with ease? Avalon's proprietary Merlin™ technology offers a suite of tools that help you manage your book of bonds. These tools include a Customs bond sufficiency calculator, the ability to schedule bond sufficiency reports, a filer entry activity report on any bond issued, and importer fraud protection.
Avalon is continually looking for ways to enhance our software to assist our clients. A new feature that will be available soon is Merlin Information Xchange (MIX). This enhancement to Merlin will revolutionize your bond renewals by making the process more efficient. Stay tuned for more news on MIX.
More Than Just a Bond
When you secure your importer’s bond through Avalon, it is not just a financial guarantee; it is a partnership. Our innovative risk solutions and commitment to customer service ensure that you have the support you need to navigate the complexities of importing. Whether it's through our advanced technology, specialized guidance, or comprehensive service, Avalon provides the expertise you need to support your importers.
To learn more, reach out to an Avalon representative at letsconnect@avalonrisk.com.
