Carnet Bond Renewals

Posted on: October 9th, 2015 • In Bonds

In the event that your client has an annual Carnet bond, this is a reminder that the United States Council for International Business (USCIB) will be issuing letters in the beginning of October confirming the bond amount required for the principal’s annual Carnet bond for the 2016 term. Once this

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What is an Importer bond?

Posted on: October 9th, 2015 • In Bond Type: 301-1 - Importer, Bonds

An importer bond, or Activity Code 1, is the most common type of Customs bond. This type of bond allows an importer of merchandise to bring their goods into the United States. The bond guarantees that the entry paperwork is filed correctly by the principal or principal’s customs broker and

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What is Liquidation?

Posted on: October 9th, 2015 • In Bond Type: 301-1 - Importer, Bonds, 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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