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The short answer
You need a customs bond for any formal entry, broadly shipments over $2,500, and for every Importer Security Filing on ocean cargo. A single transaction bond covers one entry and is generally set at no less than the entered value plus duties, taxes and fees; a continuous bond covers a year of entries and, under CBP Directive 3510-004, is set at about 10% of the previous year’s duties, taxes and fees with a $50,000 minimum.
What a customs bond is
A customs bond is a contract between you (the principal), a surety company and CBP. It guarantees that you will deposit duties, taxes and charges on time, produce documents CBP asks for, and redeliver goods on demand if they are found not to comply (19 CFR 113.62(a), (c) and (d)). If you do not pay, the surety does, and then recovers from you. The bond is not insurance for you; it is protection for the US Treasury.
When you need one for Nigerian goods
- Formal entries. Informal entry is only available for shipments not exceeding $2,500 in value under 19 CFR 143.21, and not for articles over $250 in certain Chapter 99 subchapters. Above those limits, the entry is formal and a bond is needed.
- Ocean freight. Under 19 CFR 149.5, every Importer Security Filing must be covered by a bond. A container of yam flour or shea butter from Lagos needs one before it is loaded.
- Smaller shipments. For informal entries, ask your broker whether a bond is required for your particular goods.
Since the $800 de minimis exemption was suspended, every commercial shipment needs an entry, so the bond question comes up sooner and more often than it used to. See de minimis ended.
How CBP sets the amount
CBP Directive 3510-004, issued in July 1991 and still the published basis for bond formulas, sets out the standard approach. Your broker or surety can confirm how it is applied today.
| Single transaction bond | Continuous bond | |
|---|---|---|
| Covers | One entry | All entries (and ISFs) for a year, renewed |
| Amount | Not less than the total entered value plus all duties, taxes and fees | Nearest 10% of duties, taxes and fees paid in the previous calendar year, in multiples of $10,000 |
| Minimum | Set by the formula; any CBP bond at least $100 (19 CFR 113.13) | $50,000 |
| Goods under other agencies | Not less than three times the entered value for listed goods, such as certain FDA-regulated or quota goods | Formula as above; CBP can ask for more security |
CBP also weighs your payment record, your record on redelivery demands and liquidated damages, the value and nature of the goods and how closely it will supervise them (19 CFR 113.13(b)). If it finds a bond insufficient, you are told in writing and have 15 days to fix it, and CBP can demand a cash deposit or single transaction bond meanwhile.
Worked example
Example only: a Dallas importer expects to bring in $150,000 of Nigerian packaged foods in a year. Suppose ordinary duty averages 5% and the 12.5% Section 301 tariff applies, so duty is about 17.5%, or $26,250, before fees.
- 10% of $26,250 is about $2,625, so the continuous bond falls to the $50,000 minimum.
- A single shipment worth $25,000 would need a single transaction bond of at least $25,000 plus $4,375 duty, so $29,375 or more.
- If those foods are on a list of goods requiring three times value, the single bond rises to $75,000 or more.
The bond amount is not what you pay. You pay the surety a premium, which the surety sets; get quotes for both types through your broker.
Single or continuous: how to choose
- Count your entries. One shipment a year usually means a single bond. Several, or any ocean freight with its own ISF, points towards continuous.
- Compare premiums. A continuous bond premium is charged once a year; single bonds are charged each time, and food at three times value makes them expensive.
- Think about speed. A continuous bond is already on file, so a shipment is not held up while a single bond is arranged.
- Check your duty growth. If duty rises, as it did for Nigerian goods in 2026, CBP may review the bond and ask for a higher amount.
- Keep your record clean. Late payments or unpaid liquidated damages make CBP ask for more security.
For who arranges the bond, see do you need a customs broker.
What happens when something goes wrong
If CBP finds more duty is due after an entry is liquidated, the bond conditions oblige you to pay the additional amount (19 CFR 113.62(a)). If you fail to redeliver goods that CBP has demanded back, for example food later found not to meet FDA requirements, or if an ISF is late or wrong, CBP issues a claim for liquidated damages against the bond. For ISF, the amount is $5,000 per violation. The surety pays if you do not, then comes to you for the money, and a surety that has paid claims for you may refuse to renew or demand collateral.
That is why a surety may ask a new importer of Nigerian food for collateral or a higher premium, since food carries more risk of a redelivery demand than, say, fabric. Keeping your filings clean is the cheapest way to keep your bond cheap.
Where Pryme fits
A bond only protects CBP if you can pay duty on time. With a Pryme Business Account opened from the US you can hold dollars for duty and freight alongside naira for suppliers, and multicurrency accounts keep each in its own currency until you choose to convert. The Finance agent can prepare a duty forecast for you to review. Outside Nigeria, Pryme’s services are provided through regulated partners.
Questions people ask
Do I need a customs bond for goods from Nigeria?
Yes for formal entries (broadly over $2,500) and for every Importer Security Filing on ocean cargo. For smaller informal entries, ask your broker.
How much is a continuous customs bond?
Under CBP Directive 3510-004 the bond amount is about 10% of the previous year’s duties, taxes and fees, with a $50,000 minimum. You pay a premium to the surety, not the bond amount.
What is a single entry bond amount?
Generally not less than the entered value plus all duties, taxes and fees, and at least three times the value for certain goods regulated by other agencies such as FDA.
Can I use my broker’s bond?
An ISF can be covered by the filing agent’s bond if you have none. For entries, the bond is in your name as principal; your broker arranges it with a surety.
Sources
- eCFR: 19 CFR 113.62, Basic importation and entry bond conditions · accessed Oct 2026
- CBP: Customs Directive 3510-004, Monitoring of importer and broker bonds (23 Jul 1991) · accessed Oct 2026
- eCFR: 19 CFR 113.13, Amount of bond · accessed Oct 2026
- eCFR: 19 CFR 143.21, Merchandise eligible for informal entry · accessed Oct 2026
- eCFR: 19 CFR Part 149, Importer Security Filing · accessed Oct 2026
- Federal Register: USTR notice of actions in Section 301 investigations of various economies (28 Jul 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.