At a glance
- What changed
- CSMS 48380692 Drawback: AP Continuous Bonding Policy Change
- Who is affected
- North America
- Business impact
- Their current policy, in place since February 24, 2018, states claimants desiring to use an activity code “1A” continuous bond to secure AP are required to use a continuous bond with an effective date on or before the claim date. If a…
Their current policy, in place since February 24, 2018, states claimants desiring to use an activity code “1A” continuous bond to secure AP are required to use a continuous bond with an effective date on or before the claim date. If a continuous bond’s effective date is after the claim date a sufficient and valid 1A single transaction bond must be utilized. CBP is updating this policy and ACE programming to allow AP to be secured by a sufficient and valid 1A continuous bond provided the bond’s effective date is on or before the AP request date.
The changes in ACE programming is expected to be completed within ten weeks. Until then the current policy of requiring a single transaction bond will continues if the 1A continuous bond is after the claim date.
Crane Trade Services can assist you with questions regarding this matter. For assistance please contact CWTSConsulting@craneww.com.
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