What is Periodic Monthly Statement Processing Program?

Posted on: July 28th, 2011 • In Bond Type: 301-1 - Importer, Bonds

When an import is made into the U.S., the duties, taxes and fees are due to Customs within 10 days. The Periodic Monthly Statement Processing Program (PMS) allows the principal to pay these duties, taxes and fees on the 15th working day of the following month. This program is only offered for continuous Importer bonds and approval from Customs is required before participating.

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