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Feb 9

Written by: Hal Jacobson
2/9/2010 11:54 AM 

In case any of us have forgotten US Customs and Border Patrol  (CBP) is beginning to implement the program.

Just the other day a first time importer called with some distressing news. Apparantly their incoming shipment was not reported to CBP  within the required time frame hence was required by the surety company to purchase a multiple entry bond rather then the single entry bond. That was an expensive lesson since the shipment was valued at just a few thousand dollars. The surety companies are protecting themselves against possible fines by CBPdespite the fact CBP announced they would not consider the pena;lty until the last quarter of the year.

So be alert.

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