Amount of insurance for CCSPs now based on ten day average storage under HCCAR, easing bond and compliance burdens. The amount of insurance to be provided by CCSPs under HCCAR shall equal the average value of goods likely to be stored in the customs area for ten days based on projected capacity, with the Commissioner of Customs empowered to specify the amount having regard to goods already insured by importers or exporters; a notification has reduced the bond requirement commensurately from the prior thirty-day basis.
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Provisions expressly mentioned in the judgment/order text.
Amount of insurance for CCSPs now based on ten day average storage under HCCAR, easing bond and compliance burdens.
The amount of insurance to be provided by CCSPs under HCCAR shall equal the average value of goods likely to be stored in the customs area for ten days based on projected capacity, with the Commissioner of Customs empowered to specify the amount having regard to goods already insured by importers or exporters; a notification has reduced the bond requirement commensurately from the prior thirty-day basis.
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