Inbond Law and Legal Definition
Inbond is “a procedure administered by U.S. Customs and Border Protection (CBP) under which goods are transported or warehoused under CBP supervision until the goods are either formally entered into the customs territory of the U.S. and duties are paid, or until they are exported from the U.S. The procedure is so named because the cargo moves under a bond (financial liability assured by the principal on the bond) from the gateway seaport, airport, or land border port and remains inbond until CBP releases the cargo at the inland Customs point or at the port of export.” [15 CFR 30.1; Title 15 -- Commerce And Foreign Trade; Subtitle B -- Regulations Relating To Commerce And Foreign Trade; Chapter I -- Bureau Of The Census, Department Of Commerce; Part 30 -- Foreign Trade Regulations; Subpart A -- General Requirements]
