Provisional assessment requires bond and security to cover any deficiency between final and provisional customs duty. Provisional assessment requires the proper officer to estimate provisional duty; the importer or exporter must execute a bond to pay any deficiency between final and provisional duty and furnish prescribed security. Security may take the form of a bank guarantee or a cash deposit. Administrative guidelines and circulars provide procedural direction and have been updated to reflect rules of origin administration under trade agreements.
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Provisions expressly mentioned in the judgment/order text.
Provisional assessment requires bond and security to cover any deficiency between final and provisional customs duty.
Provisional assessment requires the proper officer to estimate provisional duty; the importer or exporter must execute a bond to pay any deficiency between final and provisional duty and furnish prescribed security. Security may take the form of a bank guarantee or a cash deposit. Administrative guidelines and circulars provide procedural direction and have been updated to reflect rules of origin administration under trade agreements.
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