October 2024 - Question #59
- When an individual or organization files a bond with CBP the activity in which they plan on engaging will be identified on the bond. The bond conditions correspond to the activity that will be incorporated by reference into the bond. For example, when a person files a(n) _____ bond it can only be a continuous bond.
A) basic importation and entry
B) international carriers
C) basic custodial
D) repayment of erroneous drawback
The types of bonds that need to be continuous bonds are discussed in 19 CFR 113:
Let’s go to that subpart and check each individual type:
§ 113.62 Basic importation and entry bond conditions.
A bond for basic importation and entry must contain the conditions listed in this section and may be either a single transaction or a continuous bond.
§ 113.64 International carrier bond conditions.
A bond for international carriers must contain the conditions listed in this section and may be either a single transaction or continuous bond.
§ 113.63 Basic custodial bond conditions.
A basic custodial bond must contain the conditions listed in this section and must be a continuous bond.
§ 113.65 Repayment of erroneous drawback payment bond conditions.
A bond for repayment of erroneous drawback must contain the conditions listed in this section and may be either a single transaction or continuous bond.
The answer is C.
Posted May 8, 2025, 3:01 PM UTC