CBP May Reject CBP 301 Bonds With Pre-Printed Dollar Limits for the Surety Atty-in-Fact
U.S. Customs and Border Protection and surety sources indicate that CBP now has a policy of rejecting certain executed CBP Form 301 bonds if the bond amount exceeds the liability underwriting amount included on pre-printed CBP 301 forms, usually by the stamped facsimile signature.
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
Specifically, when the activity type is importer/broker, the port will reject the entry summary and request that the broker take appropriate corrective action, then resubmit the entry summary.
For all other type bonds, CBP is allowing time for the filer of the bond to fix this discrepancy.
CBP states that the occurrence of this type of discrepancy suggests a lack of care on the part of some brokers in allowing persons other than the agent whose facsimile stamped or pre-printed signature appears on the bond to actually execute the bond.
According to CBP sources, written guidance on this issue has been sent to CBP field personnel.