The new regulation commenced January 26th<\/sup>\u00a0under a \u201cgraduated enforcement\u201d approach by CBP.\u00a0 All ISF filings are required to be secured with a U.S. Customs bond.<\/p>\n Since 1991, TRG has provided continuous Customs bonds<\/a> to importers. The most common Customs bond is the import bond. These particular surety bonds guarantee CBP that any duties or fines owed by the importer will be paid either by the importer or the Surety through which the bond is placed. Importer Security Filing creates the potential for higher penalties on U.S. importers, thus requiring a surety bond be associated with the filing.<\/p>\n Activity Code 1<\/a> – Continuous Importer Bond A new continuous bond referred to as the \u201cAppendix D\u201d bond is the other continuous Customs bond that will cover an ISF. TRG has opted to continue to only provide the bonds amended for ISF rather than the Appendix D bond. TRG feels there are little to no situations in which the Appendix D bond would be necessary.<\/p>\n CPB is also allowing importers to secure the ISF with a new ISF single entry bond. \u201cWe gave serious consideration to providing single entry bonds. However, in our experience, we have found that continuous bonds are a much lower risk to the Sureties we underwrite for. Keeping our risk at a minimum allows us to offer below-market pricing on the continuous bond. Also, with the new regulation, the continuous bond will now be the most economical decision for small, medium and large enterprises,\u201d Laura Michel, VP of Operations, stated during a recent Customs bond webinar hosted by TRG.<\/p>\n","protected":false},"excerpt":{"rendered":" TRG\u2019s Customs bond division has opted to continue to only provide the amended Continuous bonds for Importer Security Filing. Customs and Border Protection allows for ISFs to be secured by single entry or continuous bonds. <\/p>\n","protected":false},"author":1,"featured_media":7322,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":""},"categories":[4,584,39],"tags":[164,165,38,196,197,206,243],"_links":{"self":[{"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/posts\/148"}],"collection":[{"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/comments?post=148"}],"version-history":[{"count":11,"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/posts\/148\/revisions"}],"predecessor-version":[{"id":10650,"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/posts\/148\/revisions\/10650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/media\/7322"}],"wp:attachment":[{"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/media?parent=148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/categories?post=148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/traderiskguaranty.com\/trgpeak\/wp-json\/wp\/v2\/tags?post=148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}CBP has amended the following continuous bonds to cover ISF:<\/h2>\n
\nActivity Code 2<\/a> – Bonded Custodian Bond
\nActivity Code 3<\/a> – International Carrier Bond
\nActivity Code 4<\/a> – Foreign Trade Zone Operator Bond<\/p>\n