Anti-Dumping and Countervailing Duties

Posted on: October 11th, 2016 • In Bond Type: 301-1 - Importer, Bonds

There is so much more to Customs bonds than just financial underwriting.  The complex system of laws, regulations and taxes that principals who are involved in international trade are expected to know and be familiar with can be daunting.  In fact it is often the Customs specific risks that can

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C.A. Shea’s Role in the Customs Bond Surety Approval Process

Posted on: October 11th, 2016 • In Bonds

C.A. Shea provides a unique dual role in the world of customs bonds as both a facilitator and as a specialty broker. Our firm’s primary role is to assist brokers with the placement of Customs bonds for accounts whether they are part of a larger surety program or a stand

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Carnet Bond Renewals

Posted on: October 11th, 2016 • 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 2017 term. Once this

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Paper 301 Bond Form Becoming Obsolete

Posted on: July 29th, 2016 • In Bonds

Customs moved to the eBond process in January 2015 to allow the bond information to be electronically filed with Customs.  There have been a number of positive changes based on the eBond process, such as the speed in which a new bond can be filed and the reduction in paperwork

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Listing Multiple Principals on the Same Bond

Posted on: July 29th, 2016 • In Bonds

Occasionally, companies express an interest in listing more than one entity on a bond. In these situations, Customs does allow separately incorporated entities to be listed on the same bond as co-principals as long as the entities each have the same distinct legal status, such as corporations, partnerships or sole

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Updated U.S. Customs Bond Application

Posted on: July 29th, 2016 • In Bonds

Periodically, our office reviews our Customs bond application to ensure that it is up to date. The most recent application can be located on our website.

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Periodic Monthly Statement Processing Program

Posted on: April 1st, 2016 • In Bond Type: 301-1 - Importer, Bonds

When an import is made into the U.S., the duties, taxes and fees are due to CBP 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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Reconciliation Rider

Posted on: April 1st, 2016 • In Bond Type: 301-1 - Importer, Bonds

Reconciliation is a CBP process which, according to CBP, “allows the importer, using reasonable care, to file entry summaries with CBP with the best available information, with the mutual understanding that certain elements, such as the declared value, remain outstanding. At a later date (anywhere from 12 to 21 months)

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Claim Contacts

Posted on: April 1st, 2016 • In Claims

Our office is now notifying bond principals via email of any claims issued by CBP against the bonds we handle.  Therefore, it is important to ensure that our office has the most current contact information for a bond principal to ensure timely responses to Customs on claims. Please contact our

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The Freeze Program

Posted on: January 7th, 2016 • In Bonds

An insufficiency notice or notice of claim never being received by the principal and mail being returned to Customs as undeliverable, causing a “bad address” insufficiency, are examples of the importance of Customs having the correct address information on file.  Brokers and principals must be aware of the options available

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