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 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

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What is Reconciliation?

Posted on: April 30th, 2011 • In Bond Type: 301-1 - Importer, Bonds

Reconciliation is a customs process in which participation requires a principal to add a special rider to their continuous importer bond.   It allows an importer to estimate the value of goods entering the U.S. and pay any duties, taxes and fees based on that amount. After a period of 18-21 months, when

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