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How much does a customs broker bond cost in Texas?
Customs brokers in Texas must post surety bonds between $50,000 and $100,000 to operate within the state. An additional $1,000 worth of coverage is required for each place of business from which the customs broker intends to issue export certification forms. Applicants should confirm their needed bond amount prior to purchasing.
These bonds are subject to underwriting, so the price you’ll pay depends on a review of your personal credit report. Request your free bond quote now!
Ready to get bonded? Our experts make purchasing the Texas surety bond you need fast and easy! Call 1 (800) 308-4358 or submit a bond request to get started!
Why do I need this bond?
Chapter 151 of the Texas Tax Code requires customs brokers in the state to post surety bonds. By posting this bond, principals (customs brokers) pledge to pay all taxes, interest, penalties, and costs that become due to the state on time and in full.
If the principal fails to comply with these terms, the surety will cover any financial losses that occur up to the full amount of the bond. The principal must reimburse the surety for all damages paid out.
What’s the fine print?
Texas customs broker surety bonds remain in full force and effect until canceled. The surety can terminate the bond by giving written notice to the Comptroller of Public Accounts. Termination becomes effective 30 days after the notice is received.
How to become a customs broker in Texas
Before a person can legally act as a customs broker in Texas, he or she must first apply to the Comptroller of Public Accounts for licensure. All license applications must be accompanied by:
- the $300 license fee
- a surety bond in the proper amount
All licenses expire annually on December 31.
Kick-start the licensing process by purchasing the Texas customs broker surety bond you need. Request your free bond quote now!