Liquidated Damages
The three parties in a CBP Bond.
What are the Principal, the Surety and the Obligator?
001-5
Merchandise transported by a commercial carrier must be entered within this timeframe.
What is within 15 calendar days of arrival?
002-13
An entry of this type requires exportation within one year from the date of importation.
What is a TIB entry?
004-4
The requirement for a party to return merchandise to CBP upon demand.
What is redelivery?
005-3
The time limit for payment or filing for relief.
What is 60 days?
006-32
The maximum amount of a Liquidated Damage claim.
What is the amount of the Bond?
001-6
Entry types.
What are Formal Entries and Informal Entries?
002-15
Two times the duty and MPF or 110% of the duty plus MPF.
What is the claim amount for a TIB violation?
004-7
CBP Form 4647.
What is the form utilized to demand redelivery?
Must be submitted 24 hours before cargo is laden at the foreign port for non-bulk cargo.
What is the Importer Security Filing?
006-3
The date of the violation in a LD case.
What is the date of the breach of the bond?
001-7
Transportation entries are also referred to as this.
What is an in-bond?
002-28
The number of days that must pass for a TIB Breach to occur.
What is 30 days?
004-6 and 004-19
Prohibited or restricted merchandise has this claim amount on the 5955A.
What is three times the entered value of the merchandise?
The amount of an an ISF claim for late or inaccurate filing.
What is $5,000
006-5
A Single-Entry Bond and a Continuous bond.
What are the two types of bond coverage?
001-11
A storage facility for merchandise unentered after 15 days of arrival.
What is General Order?
002-33
Guidelines that must be considered for a petition of a TIB penalty.
What are Mitigation Guidelines?
004-15
Petitions that must be referred to these other agencies for review and recommendation.
What are petitions involving the FDA, CPSC, EPA, etc.?
0051-15
Cited in the Mitigation Guidelines as a mitigating factor for ISF Claims.
What is C-TPAT status?
006-7 and 006-12
A Basic Importation Bond, a Basic Custodial Bond and an International Carrier Bond.
What are the three primary types of bonds?
001-14
The importer or broker this along with any payment due within 10 working days of release.
What is the entry summary?
002-40
The wrong bond type and fewer than 30 days since the TIB period expired.
What are discrepancies that world make a TIB case insufficient?
004-15
The period during which admissibility of merchandise is determined.
What is the Conditional Release Period?
005-11
The number of data elements contained within an ISF filing.
What is ten?
006-4