Tuesday, March 18, 2014 Trade Report
Miami Import | U.S. Customs | Customs Broker Miami | Import & Export
U.S. Customs and Border Protection indicated recently that as of April 8 it will resume the process of rendering continuous bonds insufficient due to returned mail from a bond principal. This action will be taken by CBP’s Bond Team on Tuesdays.
If the address currently on file with CBP is correct, the importer should submit via fax or email a short letter to the Bond Team specifying its current address and certifying that it receives mail at that location. This letter should be on company letterhead and signed by an officer of the company. When CBP receives this documentation, the Revenue Division will return the bond to sufficient status and make one more attempt to send mail to the address.
If the address is incorrect, the surety can respond by simply submitting an email with the subject line “RIDER IR#.” If only the mailing address is being changed, only a properly executed CBP Form 5106 will be required. If the physical address needs changing, however, both a CBP Form 5106 and an address change bond rider will be needed.The CBP Form 5106 should show both a mailing and a physical address, even if they are identical. The bond will be returned to sufficient status after this paperwork has been processed, which should typically be completed within five business days from the date the email is received.
CBP strongly encourages the trade community to work closely with their sureties to receive notification of any pending issues that may impact their continuous bond sufficiency. Failure to receive such notifications or to promptly take the necessary corrective actions will lead to the insufficiency of the continuous bond.