Insurance for customs-area cargo tied to average stored-goods value, with carrier bond validity standardized to reduce procedural burden. The amount of insurance required of CCSPs must equal the average value of goods likely to be stored in the customs area for a 30-day period based on projected capacity, subject to Commissioner discretion regarding goods already insured; carrier bonds executed by CCSPs shall have a validity period of two years or five years as applicable.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Insurance for customs-area cargo tied to average stored-goods value, with carrier bond validity standardized to reduce procedural burden.
The amount of insurance required of CCSPs must equal the average value of goods likely to be stored in the customs area for a 30-day period based on projected capacity, subject to Commissioner discretion regarding goods already insured; carrier bonds executed by CCSPs shall have a validity period of two years or five years as applicable.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
