A Deferment Fee is a charge levied by customs authorities or financial institutions for allowing the deferred payment of customs duties and taxes on imported goods.
The Deferment Fee is applied when an importer opts to delay the payment of import duties and taxes, typically by using a deferment account or bond. This arrangement provides importers with greater cash flow flexibility, as they do not need to pay these charges immediately upon entry of goods. Instead, payments are scheduled at a later date, often on a monthly basis. The fee compensates for the administrative costs and potential financial risks associated with the deferment. Utilizing a deferment account can streamline customs clearance processes and facilitate the continuous flow of goods. However, importers must ensure timely payments to avoid additional penalties and maintain good standing with customs authorities.
Deferment Fee