Recently, U.S. Customs and Border Protection ("CBP") amended its guidelines for the cancellation and mitigation of claims for liquidated damages in situations where the Petitioner is late in filing claims for relief. Petitions are considered "untimely" or "late" if they fall outside of the established regulatory time frames or after the expiration of any lawfully obtained extensions. 19 C.F.R. Part 172. Under the new guidelines, untimely petitions will be accepted or considered only if the petitioner is able to demonstrate the existence of "extraordinary circumstances that prevented the petitioner from[...]
Liquidation is the process through which Customs completes its review of an entry and finalizes its position as to the duties. You may ask, what about those duties paid at the time of entry? When duties are paid at the time of entry they are referred to as "deposits" because they are not considered Customs' final assessment of duties owed. Generally, the entry remains "unliquidated" for a period of 314 days after the date of entry. During this interim period the entry information may be revised regarding country of origin,[...]
Goods that are imported are released based on the filing of the entry and/or entry summary with Customs but before Customs may have determined whether or not the goods are admissible into the U.S. "Release" refers to Customs relinquishing physical control over the goods. However, Customs will not release the goods without evidence of an entry bond being filed. The bond offers protection to Customs in that the importer guarantees return of the goods to Customs custody if requested. Customs will order the return of goods for 1) failure to[...]
All entries must be covered by an import bond in order to make formal entry of merchandise into the United States. The bond serves to secure potential duties, taxes, and fees owed to CBP and guarantee performance of all Customs regulations requirements - but it is not insurance. The bond is to be filed on CBP form 301 and is a contract between the importer and CBP that protects Customs' interests. There are a number of surety companies who issue these bonds. Further, if the surety that provides the bonds[...]
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