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Customs and Freight Forwarding Tips
Read our selected articles on customs management and freight forwarding here below:
Bond A legal contract executed under seal whereby the person or persons entering into it bind themselves to pay a specified amount of money, known as penalty of the bond, if any of the conditions of the contract are not performed.
Principal The person who undertakes to fulfill the conditions of the bond and pay the penalty of the bond if any of the conditions of the bond are not fulfilled.