In our office’s November 3, 2011 newsletter our office included an article on Carnet bonds. As a reminder, 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
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Nov
Nov
Shea Broadens It’s Surety Markets with the Addition of Three New Sureties
Posted on: November 2nd, 2012 • In News
We are pleased to announce that Shea has been approached and has entered into relationships with Arch Insurance Group, Aspen Specialty Insurance and Philadelphia Insurance Companies to provide Customs bond support for their valued surety accounts and producers. With the continued expansion of sureties into the marketplace, it has become
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Nov
Nov
Timely Compliance is Key to Avoiding Many Liquidated Damage Claims with CBP
Posted on: November 2nd, 2012 • In Claims
Cited below are some the most common violations seen by our office by bond type. The majority of the violations giving rise to the issuance of liquidated damage penalties by CBP are the result of missed deadlines. Bond principals should always look for ways to create fail-safes and streamline compliance.
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Nov
Nov
The Role of Activity Code 2 Bonds in the Import Process
Posted on: November 2nd, 2012 • In Bonds
What happens when goods come into the United States and the importer wants to store them in a warehouse (without paying the duty)? Or when the goods must be transported to a destination outside the port of entry from a Customs secured area? What about freight forwarders or trucking companies
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