NCBFAA Calls on Members to Lobby Against Sunset for Bankruptcy Law Change
The National Customs Brokers & Forwarders Association of America is asking its members to lobby their representatives to ask for a permanent fix to bankruptcy law that used to require brokers to return money that they had forwarded to CBP…
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on behalf of clients if those clients declared bankruptcy within 90 days of those payments. There is a temporary fix to this clawback issue, but it will expire on Dec. 27 if a law with a permanent fix is not passed before then. The NCBFAA says, "Every day we hear in the news of companies filing bankruptcy due to the impacts of the COVID-19 pandemic and many of those companies are importers."