[Code of Federal Regulations]
[Title 19, Volume 1]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 19CFR113.12]

[Page 494]
 
                        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. 113.12  Bond application.

    (a) Single entry bond application. In order to insure that the 
revenue is adequately protected the port director may require a person 
who will be engaged in a single Customs transaction relating to the 
importation or entry of merchandise to file a written bond application 
which may be in the form of a letter. The application shall identify the 
value and nature of the merchandise involved in the transaction to be 
secured. When the proper bond in a sufficient amount is filed with the 
entry summary or with the entry, or when the entry summary is filed at 
the time of entry, an application will not be required.
    (b) Continuous bond application. If a person wants to secure 
multiple transactions relating to the importation or entry of 
merchandise or the operation of a bonded smelting or refining warehouse, 
a bond application, which may be in the form of a letter, shall be 
submitted to the port director.
    (1) Information required. The application shall contain the 
following information:
    (i) The general character of the merchandise to be entered; and
    (ii) The total amount of ordinary Customs duties (including any 
taxes required by law to be treated as duties) accruing on all 
merchandise imported by the principal during the calendar year preceding 
the date of the application, plus the estimated amount of any other tax 
or taxes on the merchandise to be collected by Customs. The total amount 
of duties and taxes shall be that which would have been required to be 
deposited had the merchandise been entered for consumption even though 
some or all of the merchandise may have been entered under bond. If the 
value or nature of the merchandise to be imported will change in any 
material respect during the next year the change shall be identified. If 
no imports were made during the calendar year prior to the application, 
a statement of the duties and taxes it is estimated will accrue on all 
importations during the current year shall be submitted.
    (2) Application updates. If the port director approves a bond based 
upon the application, whenever there is a significant change in the 
information provided under this paragraph, the principal on the bond 
shall submit a new application containing an update of the information 
required by paragraph (b)(1) of this section. The new application shall 
be filed no later than 30 days after the new facts become known to the 
principal.
    (c) Certification. Any application submitted under this section 
shall be signed by the applicant and contain the following 
certification:

    I certify that the factual information contained in this application 
is true and accurate and any information provided which is based upon 
estimates is based upon the best information available on the date of 
this application.