Liquidated Damages are predetermined civil penalties assessed against importers who have breached the terms of Customs bond. These liquidated damages claims arise when an importer fails to adhere to the Customs regulations and/or requests made by Customs on behalf of other government agencies (e.g. FDA). Specifically, a majority of the claims for liquidated damages stem from issues related to failure to redeliver goods, or improper classification, valuation, or marking. Petitions for relief from liquidated damages must be filed within sixty (60) days from the date of mailing to the bond principal,[...]
Have you received a letter from Customs that looks like this http://twitpic.com/9j9rll ? U.S. Customs and Border Protection is the agency responsible for protecting our borders. Accordingly, Customs officials at seaports, airports, and other border crossings all over the U.S. have the authority to examine, detain, and/or seize merchandise entering or exiting the country. More often than not, importers and exporters are surprised and intimidated when they find out that the government has intervened in their business. As a result, it is best to provide my readers some basic knowledge in an[...]
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