THE AIRPORT SECURITY BOND
Airport Security Bond – Who needs this Customs bond?
· The Airport Security Bond is Activity Code 11 on the CF301 bond form. This common bond is needed by businesses and people needing access to secured areas within any US airport. Think about the various restaurants, retail stores and contractors that work inside an airport. All need permission to access the secured areas.
· The Airport Security Bond is required by Customs to ensure the businesses and individuals operating within the secured areas of a US airport follow the various rules and regulations. Claims, including fines and penalties will be issued for anyone’s failure to follow these rules and regulations. Avoid additional expense from these common violations:
o Unauthorized individuals in secured areas. Ensure all personnel have proper Identification Cards, openly displayed when entering secured areas.
o Failure to report loss or theft of Identification Card. Timely report loss or theft of ID cards to the Port Director. Similarly, be sure to return an ID card to the Port Director for any individuals no longer employed or needing access to secured areas.
The minimum bond amount is $25,000 and increases depending upon number of employees needing access to secured areas within airports. Please contact your IB&M representative if you or your client need the Customs Airport Security bond or have any questions.