[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: 19CFR113.12]



[Page 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.  113.12  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.