[Code of Federal Regulations]

[Title 19, Volume 1]

[Revised as of April 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 19CFR113.11]



[Page 538-539]

 

                        TITLE 19--CUSTOMS DUTIES

 

   CHAPTER I--BUREAU OF CUSTOMS AND BORDER PROTECTION, DEPARTMENT OF 

              HOMELAND SECURITY; 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



[[Page 539]]



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.