CBP Reminder on Email Requirement for Single Transaction Bond in ACE
CBP has issued a CSMS message reminding importers, brokers, and other stakeholders of the bond requirement under 19 CFR 142.4 for imported merchandise. A copy of the Single Transaction Bond (STB), being obligated for an ACE entry summary, is required to be submitted to ACE_STB@cbp.dhs.gov.
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
This requirement is outlined in the “Business Rules and Process Document (Trade)”document in chapter “5.0 Single Transaction Bond”. Failure to submit the STB for an ACE entry summary may result in liquidated damages under 19 CFR 113.62 (m). Any STBs that were not submitted for past ACE entry summaries need to be submitted to ACE_STB@cbp.dhs.gov in order to avoid liquidated damages. (CSMS #10-000224, dated 09/24/10)