MPF: The Merchandise Processing Fee (MPF) is a fee collected by the U.S. Customs and Border Protection (CBP) to process merchandise entering into the U.S. The MPF is assessed and paid at the time of entry summary, and the fee is based on the value of the merchandise being imported. As of Oct. 1st, 2020, US Merchandise Processing Fee (0.3464% on declared value; min $26.79 / max $519.76)
HMF: The Harbor Maintenance Fee (HMF) is a fee imposed by U.S. Customs and Border Protection (CBP) for U.S. imports shipped via ocean freight. It is charged at 0.125% of the value of the commercial cargo shipped through identified ports.
Customs Bond: A Customs Bond is a requirement of the U.S. Government. It is a way of guaranteeing who is responsible for paying duties and taxes. A Customs bond is a contract between three parties - U.S. Customs, a principal (i.e. importer) and a surety. Bonds at ARTA are rated at $2.50 per $1,000 of declared value; min $25 / max $750.
Unsure about other shipping terminology? We made you a dictionary of all fine art shipping slang on our blog.