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eBond Overview: Modernizing Bond Processes for Efficiency

Learn about the evolution of eBonds, underwriting practices, continuous bonds, and ISF STBs in the bond industry today. Explore the benefits of CBP's eBond system and streamline your bonding process. Stay informed and adapt to the changing landscape.

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eBond Overview: Modernizing Bond Processes for Efficiency

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  1. eBond Overview/Underwriting Jason Wieselman 12/17/14

  2. Bonds As They Exist Today . Continuous Bonds – Indianapolis NFCISF Bonds – ISF Mailbox DCSTBs – Port Level NationwideMiscellaneous Bonds - Varied • .www.intlbondmarine.com

  3. eBond Overview When did the first eBond discussions take place?A. 1995 B. 2005 C. 1985 • .www.intlbondmarine.com

  4. eBond Overview William Von Raab “Automate or Perish” C. 1985 • .www.intlbondmarine.com

  5. Why now? 1 ACE 2 RESOURCES 3. PEOPLE • .www.intlbondmarine.com

  6. CBP GAINS: 1 –Centralization 2 –Accountability4 – Port Level Uniformity • .www.intlbondmarine.com

  7. UNDERWRITING . 1. The Foundation of Broker/Surety relationship is built on trust.2. We are in the business of writing bonds, not rejecting them.3. 95-99% of bonds will flow through • .www.intlbondmarine.com

  8. Continuous Bonds . 1. Commodity2. Country of Origin3. Penalty Amount4. Financial Stability • .www.intlbondmarine.com

  9. ISF STBS . 1. Still looking for Timeliness & Accuracy2. ISF Penalty Enforcement on the Horizon again for May3. Process Remains the Same (Elimination of paper bond copy) • .www.intlbondmarine.com

  10. Single Transaction Bonds . 1. Penalty Amount2. HTS # 3. OGA’s4. AD/CVD • .www.intlbondmarine.com

  11. CBP eBond Page is Live . http://www.cbp.gov/trade/trade-community/programs-administration/bonds/ebond/GO THERE! • .www.intlbondmarine.com

  12. THANK YOU! . • .www.intlbondmarine.com

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