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TIB stands for Temporary Import Bond (or Temporary Import Under Bond / Entry Type 23) and is a procedure you use when merchandise may be entered into the United States for a limited time period duty free. Instead of paying a duty, the importer posts a bond for twice the amount of duties and taxes that would be owed when the product is imported. Under a TIB, the importer agrees to export or destroy the merchandise within a specified time period. It is important to follow this time period or damages paid result in twice the normal duty amount. |
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CBP Form 3495, Application for Exportation of Articles Under Special Bond, is an application for exportation of articles entered under Start Printed Page 67004temporary bond pursuant to 19 U.S.C. 1202, Chapter 98, sub chapter XIII, Harmonized Tariff Schedule of the United States, and 19 CFR 10.38.
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