Question: If our corporate address in HOUSTON, and we have other physical manufacturing locations having the same tax number and name, but located in FLORIDA, ALABAMA, TENNESSEE, do all of these physical locations need to be shown on a continuous import bond if they will be importing? All 4 locations have the same tax I.D. […]
Question:Is anyone familiar with obtaining a bond or letter of credit in favor of the USDA for use under the Sugar Containing Products Re-Export Program? Any information you can provide will be helpful. If you are willing to talk with me about this please provide your contact details as well.
Question: A sister company is seeking to become an authorized bonded carrier…. In most cases I wouldn’t at all be interested in what they do (or don’t)because I am not an employee of this related company. However, in thisinstance, if they succeed in becoming an authorized bonded carrier they willbe transporting our goods in bond. […]
Question: The guidelines from our bonding company show that a bond for a warehouse entry is taxes and fees plus two times the duty. I have asked for a citation where that is listed and have not found any. The bonding company stated it was in Directive 3510-004, Monetary Guidelines for Setting Bond Amounts but […]
Question: We do not operate an FTZ nor are we a Bonded Warehouse. However, we do regularly get delivered uncleared (bonded freight – both I.T.s and T&Es) on a regular basis. However I found a Bond Rider on file for a “Custodian of Bonded Merchandise”. Although some of our local staff have told me […]
We are an importer, about to renew our continuous bond. I’d be interestedin hearing from any members who provide CBP with cash, U.S. bonds, Treasurynotes or Treasury bills in lieu of using bond sureties-pursuant to19CFR113.40. Personally, I’ve not heard of this concept before, but ourlegal team wants me to look into the possibilities. […]
When entering returnable totes and drums under HTS 9803.005 , do we need tohave a separate Customs Bond to support the entry? We have a continuousbond in place. ================================================== Answers: Yup you need an additional bond. ================================================= You need to look at setting up an IIT program (which requires an IIT bond). When this is […]
We are an importer, about to renew our continuous bond. I’d be interested in hearing from any members who provide CBP with cash, U.S. bonds, Treasury notes or Treasury bills in lieu of using bond sureties-pursuant to 19CFR113.40. Personally, I’ve not heard of this concept before, but our legal team wants me to look into […]
Question: Do any of the members have a process or procedure they are willing to shareregarding the management of bond decrementation? My company’s’ Drawbackbond covers many divisions and subsidiaries, most with differing EINs. There are also at least two different service providers completing /managing the drawback process for the Principals / Co-Principals listed onour bond; […]
Question: During our annual bond review, we have determined that the amount of ourbond needs to decrease significantly. I use the Focused Assessment Exhibit5T for guidance when making any changes to our reconciliation program. Oneof the red flags is the importer terminating a continuous bond. The FArecommended best practice is as follows: “Company performs a […]
Question: Pretty straight forward… just as a sanity check. Do you calculate the bond limits for a custodial bond like a standard continuous bond?? Also does having the custodial bond allow a company/facility to receive, store, trans-load, or enter for consumption bonded merchandise under their supervision?
Question: CBP form 301 for bonds show Activity code 1 for importer or broker. How is the bond amount determined for a broker? I cannot find the calculation for a broker. I understand that for an importer it is 10% of duty & taxes from the prior 12 month period.
