Provisional assessment security requirements: bank guarantee or cash deposit mandated; prior deposit requirement dispensed to ease clearance. The Board rescinded the 2011 provisional assessment regulations and directed that provisional assessment under section 18 requires an importer to execute a prescribed bond undertaking to pay any duty deficiency and to furnish security as the proper officer deems fit; mandatory personal sureties are disallowed and security must be a bank guarantee or cash deposit, with security levels set by importer class and nature of the provisional assessment and calculated on duty differential.
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.
Provisional assessment security requirements: bank guarantee or cash deposit mandated; prior deposit requirement dispensed to ease clearance.
The Board rescinded the 2011 provisional assessment regulations and directed that provisional assessment under section 18 requires an importer to execute a prescribed bond undertaking to pay any duty deficiency and to furnish security as the proper officer deems fit; mandatory personal sureties are disallowed and security must be a bank guarantee or cash deposit, with security levels set by importer class and nature of the provisional assessment and calculated on duty differential.
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