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Request for Information, Import Bond Forms Under Review

Thursday, December 12, 2013
Sandler, Travis & Rosenberg Trade Report

U.S. Customs and Border Protection is accepting comments through Feb. 10 on the proposed extension without change of the following information collections.

CBP Form 28, Request for Information – CBP is responsible for appraising imported merchandise by ascertaining its value, classifying goods under the tariff schedule and assessing a rate and amount of duty to be paid. When the invoice or other documentation does not provide sufficient information for appraisement or classification, CBP requests additional information through the use of CBP Form 28. This form is completed by CBP personnel and the importers, or their agents, respond in the format of their choice.

CBP Forms 301 and 5297, Importation Bond Structure – Bonds are used to assure that duties, taxes, charges, penalties and reimbursable expenses owed to the government are paid; to facilitate the movement of cargo and conveyances through CBP processing; and to provide legal recourse for the government for noncompliance with laws and regulations. Each person who is required by law or regulation to post a bond to secure a customs transaction must submit the bond on CBP Form 301.

Surety bonds are usually executed by an agent of the surety, which grants authority to the agent via a Corporate Surety Power of Attorney, CBP Form 5297. This power is vested with CBP so that when a bond is filed the validity of the authority of the agent executing the bond and the name of the surety can be verified.

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