C.A. Shea is pleased to announce the celebration of our 66th year this past December as a leading intermediary broker specializing in the placement and administration of U.S. Customs bonds. A family owned and operated business incorporated in 1945, we are proud to say that members of the fourth generation of the family are now … Read more
Antidumping duties are special duties imposed upon importers of specific commodities from certain countries when the U.S. Department of Commerce feels that such importation may be harmful to domestic producers of these goods. Because of the involvement of other government agencies to determine these duties, such as the Department of Commerce, the entry liquidation period … Read more
Liquidation is the process of final review of an entry by Customs which occurs approximately one year after the entry date for a typical consumption entry. In accordance with 19CFR 159.1, liquidation means the final computation, or assessment of duties on entries for consumption or drawback entries. Presently, the liquidation cycle utilized by CBP is … Read more
The use of a Carnet allows a principal to avoid posting of financial security at the time of entry, eliminates value added taxes (VAT) and simplifies customs procedures. This is done under the premise that the goods being imported will leave the country in the same condition that they were entered and will not be … Read more
Effective January 1, 2012, Customs and Border Protection will require all new bonds to be filed on the new bond form 301. At this time, Customs has advised that only new bonds filed with an effective date of January 1, 2012 or later must be on the new bond form. Existing bonds will not be … Read more
When an import is made into the U.S., the duties, taxes and fees are due to Customs within 10 days. The Periodic Monthly Statement Processing Program (PMS) allows the principal to pay these duties, taxes and fees on the 15th working day of the following month. This program is only offered for continuous Importer bonds … Read more
In an attempt to better serve our clients, C.A. Shea can now offer emailed statements and renewal invoices. This allows our clients to receive their statements and renewal invoices directly into their email inbox without having to worry about documents getting lost in the mail. It also cuts down on the amount of paper used … Read more
The CF5955A, Notice of Penalty or Liquidated Damages Incurred and Demand for Payment is one type of claim Customs can make against a US Customs bond. When initially issued, the principal has (60) days to either file a dispute in the form of a petition or make payment to Customs. If the case has not … Read more
It has become ever more important for bond principals to keep their bonds up to date. In the last few years, Customs has initiated a number of policies that can have a serious affect on your client’s ability to operate. The most serious of which is a “bad address.” When Customs receives mail returned as … Read more
The periodic monthly statement program (see the side bar) is becoming more and more popular among importers. In a recent meeting with Customs, representatives of C.A. Shea learned that as many as 600 new importers a week sign up (or are signed up by their customs brokers) to pay their duties in this fashion. This … Read more
