There are three parties to a CBP bond: the principal, the surety and the beneficiary:

The principal on a bond can be an importer, a broker, a carrier, a bonded warehouse proprietor, a foreign trade zone operator or any one of a number of other parties that seek to do business with CBP. The principal is responsible to the CBP to insure satisfactory performance of obligations that it undertakes.

The surety is normally an insurance company that has been authorized by the Department of the Treasury for CBP to accept the surety’s bonds. The surety agrees to pay any liability that might arise from the principal’s failure to perform its obligations.

CBP is the beneficiary on all the bonds it authorizes.