AV/CVD Supplemental Continuous Bond
Customs Border and Protection (CBP) is establishing a separate continuous bond set up for importers that are subject to antidumping and/or countervailing duties. CBP anticipates finalizing the rulemaking to establish separate, supplemental continuous bonds on importers subject to AD/CVD. In fact, Brian Bradley with American Shipper writes that CBP anticipates a final rulemaking by the end of the year.
“The CBP Commercial Operations Advisory Committee (COAC) anticipates making recommendations at its June meeting for CBP regulations for a supplemental AD/CVD bonding mechanism, Lisa Gelsomino, CEO of Avalon Risk Management and member of the COAC Bond Working Group, said during the annual National Customs Brokers & Forwarders Association of America (NCBFAA) conference in Rancho Mirage, Calif.”
Trade Facilitation and Trade Enforcement Act Section 115 requires CBP to adjust importers’ bond amounts based on importer risk assessments conducted by CBP to protect federal government revenue. For more information on AD/CVD, visit the Trade Facilitation and Trade Enforcement Act of 2015 (TFTEA) Webpage.