[Code of Federal Regulations]
[Title 19, Volume 1]
[Revised as of April 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 19CFR113.11]

[Page 483]
 
                        TITLE 19--CUSTOMS DUTIES
 
  CHAPTER I--UNITED STATES CUSTOMS SERVICE, DEPARTMENT OF THE TREASURY
 
PART 113--CUSTOMS BONDS--Table of Contents
 
            Subpart B--Bond Application and Approval of Bond
 
Sec. 113.11  Bond approval.


    Each person who is required by law, regulation, or specific 
instruction to post a bond to secure a Customs transaction or multiple 
transactions must submit the bond on Customs Form 301. If the 
transaction(s) will occur at one Customs port, the bond shall be filed 
with and approved by the director of that port where the transaction(s) 
will take place. If the transactions will occur in more than one port 
the bond may be filed with and approved by any port director. Only one 
continuous bond for a particular activity will be authorized for each 
principal. The port director will determine whether the bond is in 
proper form and provides adequate security for the transaction(s). A 
bond relating to repayment of an erroneous drawback payment containing 
the bond conditions set forth in Sec. 113.65 shall be filed with the 
appropriate drawback office for approval.

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