Temporary Import under Bond (TIB) is an important regulatory procedure that facilitates duty free import into the US for eligible goods being re-exported.
Temporary Import under Bond (TIB) is an important regulatory procedure that facilitates duty free import into the US for eligible goods being re-exported. As a TIB is a nationally administered device, it is not the template for temporary imports into other countries, though most other countries have their own similar regimes.
A TIB is not the only duty-free import facility into the US, an ATA carnet is an alternative procedure, and may be better suited for many purposes; it all depends on what is being imported, its value and how long it will remain in the US. Another potential solution is simply to pay the duty due at import. Of course, if any imported item is free of duty then TIBs or carnets aren’t necessary. A logistics company with familiarity and expertise in TIBs as well as ATA Carnets can help you determine what procedure is best for your situation.
Specifically, TIBs are allowed for the following 14 subheadings of the US Harmonized Tariff Schedule:
1. Items to be repaired, altered or processed.
2. Women’s models for use solely as models in their own locale.
3. Items imported by illustrators and photographers intended for only use as models in their own enterprise, or within catalogs, pamphlets or similar advertising materials.
4. Samples intended only for taking orders of goods.
5. Items intended solely for assessment with a view to reproduction and movie ads, excluding photoengraved printing plates for examination and reproduction.
6. Items imported exclusively for testing, experimentation, or review, including specifications, photos, and articles to be used for study and experimentation purposes.
7. Cars, airplanes, airships, balloons, motorcycles, bicycles, boats, racing shells, and the like; including equipment brought temporarily into the country by nonresidents with the intention of taking part in races or similar contests.
8. Locomotives and similar train equipment brought into the US temporarily for emergency purposes, such as fighting fires, clearing obstructions, or doing repairs.
9. Containers for compressed gasses, both empty or filled, as well as containers for use in converting or holding goods useable for this purpose.
10. Professional equipment, repair tools, tools of trade, camping equipment, and brought by nonresidents staying in the country temporarily.
11. Items of special designs temporarily imported specifically for use of the manufacturer or production of goods for export.
12. Animals, livestock, and poultry brought into the country for the exclusive purpose of breeding, exhibition, or prize-earning competitions.
13. Works of art such as engravings, photographs, philosophical or scientific apparatuses brought by foreign artists, scientists, or lecturers with the intention of exhibition or similar encouragement of the subject.
14. Automobile chassis and bodies and cars, or any portion of them, with the sole intention of show and exhibition.
TIBs must be accompanied by a bond, equivalent to twice the duty otherwise attributed to the import and it can take three to six months to cancel the bond after goods re-export.
TIBs are good for a period of one year and can be extended depending on the circumstances.
Also note that the TIB does not have any effect on obligations to other regulatory agencies that may apply to the import i.e. USDA, EPA, etc.
Always choose a logistics company with deep experience in navigating Customs and other regulatory agencies efficiently with the highest degree of compliance.