CBP: Final rule on continuous bonds

CBP: Final rule on continuous bonds

U.S. Customs and Border Protection (CBP) today released for publication in the Federal Register a final rule concerning “continuous bonds.” Today’s release finalizes the rules concerning the CBP bond program (as proposed in 2010) but with certain changes. For instance, the final rule does not reflect the originally proposed development of electronic bonds.

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The final rule [PDF 285 KB]—

  • Clarifies the terms “CBP-approved electronic data interchange system” and “electronic filing” to describe the manner by which continuous bonds may be submitted to CBP
  • Provides that continuous bonds may be scanned and submitted to CBP as an email attachment or by facsimile 
  • Amends the CBP regulations to allow for the filing of single transaction bonds
  • Clarifies existing CBP regulations to reflect that intellectual property rights sample bonds are to intended to protect the importer or owner of the sample
  • Changes provisions of the international carrier bond requirements regarding the payment of fees
  • Makes what are described as “non-substantive amendments” to CBP regulations regarding nomenclature and organizational changes

 

For more information, contact a professional with KPMG’s Trade & Customs practice:

Douglas Zuvich | +1 (312) 665-1022 | dzuvich@kpmg.com

Andrew Siciliano | +1 (631) 425-6057 | asiciliano@kpmg.com

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