QUESTION: In updating a continuous bond is there any flexibility on how the parent and subsidiary companies are reported ? Is it simply one bond for the parent and list the importer numbers of the subs ? ================== ANSWERS: There is tremendous flexibility. You can issue one bond and include all IOR numbers, or you […]
QUESTION: My company’s import bonds are up for renewal and we have numerous U.S. legal entities listed under two separate bonds. Should we try to consolidate them under one bond? If so, what would be the steps to do that? If not, why not? ========== Answers: You can consolidate them by simply contacting your bonding […]
QUESTION: I am writing to ask the membership about their experience regarding the cancellation of an existing Customs bond and the re-issuing of a new bond. Have you experienced delays in your shipments due to the cancellation and re-issuing of the bond? Any advice how best to avoid potential delays? ========== Answers: When you cancel […]
QUESTION: Is it a requirement for having an ‘active’ customs bond at the time of filing the Reconciliation Entry(Type 09 Entry)? We changed the customs bond in the middle of the year and I guess many importers may be doing this as well. Example: Entries filed from 1/1/2016 through 9/10/2016 – Bond number 1 – […]
QUESTION: What is the process to transfer an import from a broker’s bond to an importer’s bond after entry? ================ ANSWERS: File a CBP form 3347 within 90 days of entry date. ==================== Bond transfers are explained in 19 CFR 141.20 141.20 Actual owner’s declaration and superseding bond of actual owner. (a) Filing – (1) […]
Question: I am working with a company with no import history. The company will have about 20 entries this year. The Continuous Bond formula includes previous year’s import history of duty and taxes. Can it still get a Continuous Bond? ============================= ANSWERS: Yes, it can. ============================= Yes, you can still get a continuous bond. […]
Question: Our company is selling off one of our smaller divisions. Each division has its own IOR suffix listed with CBP and is also listed separately on our import bond. Is it necessary that CBP be notified that this suffix will no longer be active, and to have the IOR suffix removed from our bond? […]
Question: Company A was a partial owner of Company B. Company B was a small volume importer that never had its own import bond and instead either cleared shipments via a courier’s bond. Company A later takes full ownership of Company B, even though Company B still maintains its own unique EIN. While purchase orders […]
Question: I have a question. We have a possible new customer who buys product from us domestically. Our merchandise is imported and up until now I have never heard of such a request. Customer claims they must have an actual copy of our bond, complete with bond number etc for their records or […]
Question: We import freight that is delivered directly to our DC warehouses. Do the warehouses need to be bonded since we are the IOR? Do the overages and damaged need to be kept in a inbond caged area or can the supplies just be separated in an area on the DC floor? […]
Question: Our company was recently purchased. We just received a request from the parent company for information on our Customs Bond status. They are wanting to add us to their Customs Bond. My question is can they add our company to their current bond since we are an incorporated business? **********
Question: Has anyone heard that Customs has started requiring, or will soon begin to require, additional single-entry bonds for bedroom furniture out of Vietnam or Malaysia (b/c of product transshipped from China to avoid anti-dumping fees). Our broker recently mentioned this to us but we had not seen anything about it. Any information on […]
