CBP Identifies Common Problem Areas for STB Filings
There are several common problem areas for consumption entry single transaction bond (STB) filings that deserve special attention from brokers and surety companies, said CBP San Francisco in an information notice. "These inaccuracies lead to questions about the validity of bonds submitted by entry filers, brokers and surety agent representatives," said the notice. "It also leads to the possibility that there may not be adequate supervision and control." CBP identified the problem areas through several audits and internal reviews, it said. The accuracy of the bonds is the responsibility of the "entry brokers, including those who exercise responsible supervision over brokerage offices, and surety agents or representatives," it said.
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CBP's notice included a list of problem areas that "deserve special attention" from those who execute STBs, the agency said. The frequently problematic sections include execution date, entry number and transaction date, it said. The bond amounts must also be sufficient and not exceed the surety agent's liability limit, said CBP. Port directors also have discretionary authority to set bond liability for a higher or lower amount as needed, it said. The notice also reminds filers and brokers of the requirements in order to be able to post an STB for 10 percent of the total entered value. Those criteria require that an entry must cover goods that are unconditionally duty free and that are not subject to other agency requirements "where the failure to redeliver may pose a threat to public health and safety, or are subject to quota and/or visa requirements," it said.
Email ITTNews@warren-news.com for a copy of the notice.