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CBP security update for dealing with suspected Anti-dumping and Countervailing entries

CBP memorandum states that local ports will require additional security in the form of a single transaction bond or cash payment, in addition to an existing continuous bond,  for entries suspected of containing merchandise subject to Anti-Dumping and Countervailing Duties.

From Customs:

“On May 1, 2012 the Office of International Trade (OT) issued a memorandum to provide guidance to the field on how to protect the revenue when the port has developed a reasonable belief that acceptance of a transaction secured by a continuous bond would place the revenue in jeopardy because of Anti-dumping/Countervailing Duty (AD/CVD) concerns. This may be done through Cash payment with live entry, or obtaining additional security in the form of a Single Transaction Bond (STB).”

To read the complete memorandum sent by Customs, click here.

Note: All bonds subjected to Anti-Dumping/Countervailing Duties must be marked with rating code 4, and are subject to Underwriting approval prior to issuance.