Provisional assessment under section 18 requires a bond and bank guarantee or cash deposit as security for duty differentials. Provisional assessment under section 18 requires the importer to execute a bond to pay any deficiency between provisionally assessed duty and the final assessment, and to furnish security in the form of a bank guarantee or cash deposit. The Board rescinded earlier Regulations and set uniform guidelines on security amounts by class of importer-including 0% treatment for certain AEOs and government imports, 100% for specified FTA origin and seal verification cases-and clarified security is based on duty differential, not CIF value.
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 under section 18 requires a bond and bank guarantee or cash deposit as security for duty differentials.
Provisional assessment under section 18 requires the importer to execute a bond to pay any deficiency between provisionally assessed duty and the final assessment, and to furnish security in the form of a bank guarantee or cash deposit. The Board rescinded earlier Regulations and set uniform guidelines on security amounts by class of importer-including 0% treatment for certain AEOs and government imports, 100% for specified FTA origin and seal verification cases-and clarified security is based on duty differential, not CIF value.
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