| Title: | BOND NOTIFICATION |
|---|---|
| Date: | 1994-06-06 |
| To: | abi |
| Links: | previous, next |
TO : ALL ABI BROKERS.
FROM : ANGELA M DOWNEY
SUBJECT : BOND NOTIFICATION
DATE : 06/03/94
4154204
DATE: JUNE 3, 1994
FILE: BON-1-CO:TO:E:O MMG
TO : REGIONAL COMMISSIONERS, DISTRICT,
AREA AND PORT DIRECTORS
FROM: : DIRECTOR, OFFICE OF TRADE OPERATIONS
SUBJECT: INSUFFICIENT BOND NOTIFICATION
PASS TO: IMPORT SPECIALISTS, ENTRY OFFICERS, CUSTOMS BROKERS AND
OTHER INTERESTED PARTIES
THE PURPOSE OF THIS NOTICE IS TO PROVIDE GUIDELINES TO FIELD
PERSONNEL ON ISSUING NOTICES OF BOND SUFFICIENCY TO BOND
PRINCIPLES, CUSTOMS BROKERS, OR SURETY AGENTS.
CUSTOMS DIRECTIVE 099 3510-05, DATED MAY 17, 1993, "BOND
SUFFICIENCY", STATES: "...THE PRINCIPAL ON THE BOND WILL BE
NOTIFIED...THAT THE BOND IS INSUFFICIENT AND THAT ADDITIONAL
SECURITY MUST BE PROVIDED WITHIN 30 DAYS OF THE NOTICE (19 CFR
113.13(A))."
EFFECTIVE IMMEDIATELY, CUSTOMS WILL GIVE 60 DAYS ADVANCE
NOTICE TO THE PRINCIPAL OF THE BOND, OR THEIR AGENT, THAT THE
BOND AMOUNT MUST BE INCREASED ON THE ANNIVERSARY DATE.
AREA/DISTRICT DIRECTORS ARE RESPONSIBLE FOR INSURING THAT
PERIODIC REVIEWS OF BOND SUFFICIENCY ARE CONDUCTED. GUIDELINES
WERE PROVIDED ON HOW TO DETERMINE THE SUFFICIENCY OF THE LIMIT OF
LIABILITY IN CUSTOMS DIRECTIVE 3510-04, "MONETARY GUIDELINES FOR
SETTING BOND AMOUNTS," DATED JULY 23, 1991, AND IN THE DIRECTIVE
CITED ABOVE.
IN OUR EFFORTS TO INSURE THAT THE LIABILITY OF MERCHANDISE
ENTERING THE COUNTRY IS COVERED, AND THAT DISRUPTION OF
COMMERCIAL ACTIVITY IS MINIMIZED, AREA/DISTRICT DIRECTORS MAY
REQUIRE SINGLE ENTRY BONDS AS AN INTERIM TO COVER IMPORTED
MERCHANDISE.
QUESTIONS REGARDING THIS MESSAGE SHOULD BE DIRECTED TO THE
ENTRY OPERATIONS BRANCH AT (202) 927-0380.
PHILIP METZGER