July 02, 2014 | Industry Insights

ISF – What’s New, What’s Not

Share This:
Featured Image

It’s been seven weeks since CBP’s internal memo to seaports resuming limited liquidated damage (LD) enforcement on ISFs. NCBFAA and the International Trade Surety Association (ITSA) requested a copy of the directive but CBP has declined to provide it. CBP maintains that an FAQ Addendum posted to their website sets forth the pertinent elements of the directive.

Regarding the resumed enforcement phase:

  • CBP has adopted a “three strikes” policy. Ports must undertake “informed compliance” outreaches to importers via phone, email or letter for the first three (nationwide) violations. LD cases may be forthcoming beginning with the fourth violation. The three strikes threshold applies regardless of the number of shipments received annually. NCBFAA and ITSA have (thus far, to no avail) objected to this as imposing an impractical and disproportionate standard of performance upon importers with large numbers of entries annually.
  • Ports continue to have “local discretion” on enforcement.
  • NCBFAA and ITSA have urged CBP to advise filers on both LD notices and “strike” outreaches. CBP has agreed to provide LD copies to filers but has declined to contact filers on outreaches.
  • The enforcement focus continues to be timeliness/non-filing vs. ISF content.
  • Vessel departure information remains spotty. Surety portal ISF records continue to lack VDM information over three quarters of the time.
  • ISF records provided to sureties contain many unexplained and ostensibly faulty bondholder references. CBP has been advised but has not yet furnished a substantive response.

Trade groups have commented upon increased incidence of ISF holds at certain ports in recent weeks. To date, our sureties have received no new ISF LD claims. We will provide further updates when claims resume and there is information of a material nature to report. To see previous ISF updates, we invite you to click here

Share This:

Related


Roanoke Insurance Group Celebrates 90 Years of Excellence and Innovation in Logistics and Trade Insurance

February 10, 2025 – Chicago, IL Roanoke Insurance Group proudly celebrates its 90th anniversary as a pioneer and trusted partner in the logistics and trade insurance industry. Since its founding in 1935 in Chicago, Illinois, Roanoke has been at the forefront of industry innovation, delivering specialized insurance solutions that have shaped and supported the global trade and logistics sector. Milestones in Roanoke’s Legacy From its early days as the first provider of customs import bonds in the United States to its recognition as the first official ATA Carnet provider for the U.S. Council for International Business (USCIB) in 1978, Roanoke […]

Industry Insights

Unlocking Success: The Key Elements of Carrier Vetting and Managing Liability

By: Andrew Johnson, Account Executive, Roanoke Insurance Group Inc. The freight brokerage industry as we know it today began in the late 1970s and early 1980s, around the time of the Motor Carrier Act of 1980. Before the passage of this landmark legislation, regulations were too restrictive to make freight brokerage a viable business segment. Fast-forward to today, and most motor carriers, by authority definition, also have a freight brokerage operation. Freight brokerages fulfill a vital service in modern logistics, connecting independent carriers with loads and drastically reducing empty repositioning moves. Brokering also allows carriers to complement their assets by […]

Industry Insights

2024 NCBFAA Scholarship & Application Announcement

Roanoke Insurance Group is delighted to once again sponsor  a $5,000 scholarship to students intending to join the trade industry. The National Customs Broker and Forwarder Association of America (NCBFAA) offers this $5,000 scholarship award yearly and will be presented to the winner at the NCBFAA annual conference in April 2024. The topic for this year’s scholarship will be “What are the key steps an organization should take to ensure that training, auditing, and engagement with a licensed customs broker and the sharing of industry information are effectively relayed to all employees, as well as properly documented to substantiate compliance […]

Events, Industry Insights

Roanoke is the leading provider of insurance and surety solutions for transportation and logistics providers. In fact, we are recognized as the most reliable source for U.S. customs bonds.

Contact

If you have any questions or need help, feel free to contact with our team.

800-762-6653
US Flag

US CORPORATE HEADQUARTERS

1501 E. Woodfield Road

Suite 400W

Schaumburg, IL 60173


Canada Flag

CANADA CORPORATE HEADQUARTERS

390 Bay Street

Munich Re Centre, 22nd Floor

Toronto, ON M5H 2Y2

Solutions that Go the Distance.

© 2024 Roanoke Insurance Group Inc.

Better Business Bureau logoCoverholder at Lloyd's logo