Anti-Dumping and Countervailing Duties

Posted on: November 3rd, 2011 • In Bond Type: 301-1 - Importer, Bonds

Antidumping duties are special duties imposed upon importers of specific commodities from certain countries when the U.S. Department of Commerce feels that such importation may be harmful to domestic producers of these goods. Because of the involvement of other government agencies to determine these duties, such as the Department of

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What is Liquidation?

Posted on: November 3rd, 2011 • In Claims

Liquidation is the process of final review of an entry by Customs which occurs approximately one year after the entry date for a typical consumption entry. In accordance with 19CFR 159.1, liquidation means the final computation, or assessment of duties on entries for consumption or drawback entries. Presently, the liquidation

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What is a Carnet Bond?

Posted on: November 3rd, 2011 • In Bond Type: USCIB - Carnet, Bonds

The use of a Carnet allows a principal to avoid posting of financial security at the time of entry, eliminates value added taxes (VAT) and simplifies customs procedures. This is done under the premise that the goods being imported will leave the country in the same condition that they were

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The New Customs Form 301 and What it Means for You

Posted on: November 3rd, 2011 • In Bonds

Effective January 1, 2012, Customs and Border Protection will require all new bonds to be filed on the new bond form 301. At this time, Customs has advised that only new bonds filed with an effective date of January 1, 2012 or later must be on the new bond form.

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