Reconciliation is a customs process in which participation requires a principal to add a special rider to their continuous importer bond. It allows an importer to estimate the value of goods entering the U.S. and pay any duties, taxes and fees based on that amount. After a period of 18-21 months, when the importer has determined the … Read more
Customs and Border Protection (“CBP”) has recently abandoned its prolonged efforts to overturn a series of decisions in the United States Court of International Trade (“CIT”), in National Fisheries v. United States, which declared enhanced bonding requirements (“EBRs”) applied to surety bonds covering shrimp subject to antidumping duty unlawful. Under the EBR protocol, CBP required … Read more
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
