Warehousing bond requirement binds importers to compliance and payment obligations for warehoused goods upon demand. Importers presenting a bill of entry for warehousing must execute a warehousing bond equal to thrice the assessed duty, obliging compliance with customs ... Summary
Warehousing bond requirement binds importers to compliance and payment obligations for warehoused goods upon demand.
Importers presenting a bill of entry for warehousing must execute a warehousing bond equal to thrice the assessed duty, obliging compliance with customs law, payment of duties and interest on demand, and payment of penalties; such bonds remain in force despite transfer of goods between warehouses.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.