Termination of a bond means that the term of the bond has ended. No further liability can be claimed against that bond for new transactions, but termination of the bond would have no effect on any obligation arising under any transaction occurring prior to termination. A bond may be terminated by the surety or the principal and appropriate notifications must be given to CBP. A notice of termination requires at least 15 days’ prior notice to be acceptable. See the provisions of section 113.27 of the CBP Regulations for more information.