CBP Announces Changes Relating to Periodic Monthly Deposit Program
U.S. Customs and Border Protection today published in the Federal Register a notice announcing changes in CBP's National Customs Automation Program (NCAP) test concerning periodic monthly deposit of estimated duties and fees. The notice states that participants in the Periodic Monthly Statement test are no longer required to provide a bond rider covering the periodic payment of
estimated duties and fees. However, nonpayment or untimely payment of estimated duties and fees may result in action by CBP to impose sanctions on the delinquent importer of record or to allow the surety to terminate its basic importation bond. If the bond principal is a participant in the Periodic Monthly Statement test, sureties will now be allowed, under certain conditions, to terminate bonds with 3 business days notice to the bond principal and CBP.
|posted by Douglas N. Jacobson| Permalink 
