WASHINGTON, Feb. 13 -- U.S. Customs and Border Protection has issued a proposed rule called: Electronic Bond Transmission.
The proposed rule was published in the Federal Register on Feb. 13 by Robert F. Altneu, Director, Regulations & Disclosure Law Division, Regulations & Rulings, Office of Trade, U.S. Customs and Border Protection.
Summary: U.S. Customs and Border Protection (CBP) collects bonds from parties engaging in transactions or activities with CBP to adequately protect the revenue of the United States and ensure compliance with U.S. statutes and regulations. This document proposes to amend the CBP regulations to require that most bonds be transmitted to CBP electronically via a specialized system by the surety securing the bond,...