On December 28, 2010, our office was notified by Customs that hundreds of Customs bonds were to be “shut off” by Customs due to a failure to comply with an obscure Customs requirement. This requirement states that a specific rider must be added to any bond used to import into the U.S. Virgin Islands. The … Read more
In conjunction with CBP, C.A. Shea now offers an expedited process for filing bond paperwork. Traditionally, bond forms and related documents would be e-mailed to the broker, who in turn forwarded them to the principal for completion. The principal would then sign and return the original documents with original (wet) signatures back to Shea for … Read more
C. A. Shea & Company, Inc. is proud to announce our new exclusive online bond issuance system, SheaBond.com. Our portal can be used to deliver all manner of single transaction bonds (ISF, importer, duty drawback, international carrier, etc) for any number of reasons. Perhaps your client’s continuous bond was rendered insufficient by Customs and they … Read more
As a timely reminder to our valued clients, please be aware that Customs and Border Protection (CBP) will commence enforcement of the Importer Security Filing (ISF) regulations, which took effect on January 26, 2009, beginning on January 26, 2010. The new regulations require certain data elements and information be provided by importers to CBP with … Read more
Recently, a $1 Billion class action lawsuit was filed by a prominent law firm on behalf of U.S. Companies against several sureties who write or who have written single entry Customs bonds for merchandise imported from companies identified as “new shippers” from China. The suit alleges that these sureties have not paid claims and substantial … Read more
CBP published a list of ISF and 10+2 FAQs PDF Link: Importer Security Filing “10+2” FAQ
Included below is a link to our informational bulletin with respect to the Importer Security Filing and Additional Carrier Requirements Interim Final Rule which has been published in the Federal Register on November 25, 2008. The interim final rule becomes effective on January 26, 2009. For the purposes of enhancing U. S. Port Security, importers will be required … Read more
The JOC ran an article, entitled “Old idea is new again”, involving importer bonds. We felt it was appropriate to respond and set the record straight. Below please find the article as well as a link to our letter to the editor. Clarifying Importer Bonds – C. A. Shea & Co.’s Response
Journal of Commerce Monday, March 03, 2008 By: R.G. EDMONSON Customs and Border Protection requires importers to post bonds to ensure that the agency will get the duties and penalties it’s owed if the importer fails to pay. Right now, all importers put up 10 percent of their annual import value, but Dan Baldwin, assistant commissioner for … Read more
