CBP Bond Directive Updated – New Guidelines for Setting Bond Amounts

  • Wydziwianie: lutego 20, 2024
  • Dotknięte regiony: Ameryka Północna
  • Rodzaj doradztwa: Taryfa
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Dear Valued Customer,

 

The U.S. Customs and Border Protection (CBP) Office of Trade recently posted an update to the CBP internal directive titled Monetary Guidelines for Setting Bond Amounts. CBP uses bonds as the primary tool to facilitate lawful trading and to protect the U.S. revenue and ensure compliance with applicable laws and regulations. A bond is required to file Importer Security Filings (ISFs) and customs entries into the U.S., along with a variety of other purposes.

 

The internal directive, first issued in 1991, reviews the policies and procedures when setting bond amounts and has had many updates throughout the years. The most recent have been in progress since 2020 and were announced in CSMS #59402411 published February 13, 2024.

New guidelines for determining bonds

The revamp of the CBP’s internal directive is a large step in updating and standardizing CBP’s bond policy. The directive addresses gaps, clarifies what CBP and the public are responsible for when setting and maintaining sufficient bond coverage, and provides transparency to the considerations CBP takes when setting bond amounts for the wide range of transactions.

 

The most notable changes for importers include:

  • All continuous bonds are set in increments of $10,000 up to $100,000, then increments of $100,000 for larger bonds (previously applied to only Activity Code 1, Continuous Import Bonds).
  • The minimum bond amount for C4 (Foreign Trade Zone Operator) bonds has been increased to $50,000 per FTZ activated location.

 

CBP’s Bond page contains the new guidance documents A Guide for the Public: How CBP Sets Bond Amounts and Summary of Changes (1991 Directive to 2024 Public Guidance).

 

CSMS #59402411 – Office of Trade issues ‘A Guide for the Public: How CBP Sets Bond Amounts’.

 

Thank you for being a Valued Customer.  If you have any questions, please do not hesitate to contact your C. H. Robinson commercial representative for further information.

Sincerely,

C. H. Robinson