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.
“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.