Claims Management

In addition to assisting our clients in obtaining the proper bond coverage, our firm also has extensive expertise in managing the claims process.  It is critically important for bond principals to exercise care and promptly respond to bond claims before the surety company gets involved, to avoid a potentially serious issue with the surety company.

CBP has the right to make claim against a CBP bond when the bond principal does not perform or pay in accordance with the bond conditions. The bond conditions are set forth in the CBP Regulations. Most claims issued by CBP originate from two sources; bills for supplemental duty assessed upon the liquidation of an import consumption entry OR liquidated damages assessed due to the principal’s failure to perform a required obligation.

One of the many services we are able to provide to our clients is claims monitoring.  Instead of relying solely on CBP’s paper notice, our claims team constantly monitors the electronic data we receive from CBP and notify our clients of developing claims issues.  We do this in the form of both automated reporting (at the client’s request) or based on our claims team determination that the issue is becoming problematic.  Once the client has been notified, our claims department monitors the claims process through CBP system until it is resolved.