We’re off to the Races! Roanoke Sends FIRST SUCCESSFUL Data Transmission to CBP!

Many Customs and trade laws carry significant financial consequences for importers, and of these laws, antidumping and countervailing duties pose some of the most dangerous ramifications. These provisions exist to protect domestic industries and producers from unfair foreign competition. Under U.S. law, goods are subject to assessment of “ordinary duties” based on their classification under the Harmonized Tariff Schedule of the United States. However, U.S. law also defines certain situations in which goods are being sold to the U.S. at prices below cost of production or below “fair market value”. This is referred to as “dumping”. Like ADD, CVD is […]

By Matt Zehner, VP, Surety Information & Analysis, Roanoke Insurance Group Inc. Recently, my colleague Colleen introduced Tariffs and Bond Stacking Liability and the need for importers to monitor bond sufficiency on a regular basis, with the goal to avoid a short-notice demand from CBP to terminate and file a larger bond.  One significant reason to planning the timing of when to make use of a larger continuous bond is that by reducing the number of times the bond amount changes over time, the bond principal is able to minimize the accumulation of bond liability.  There are ancillary benefits to importers when […]

An import bond is more than a simple commodity. Choosing the right customs surety bond provider can add stability and certainty to your business as well as the flow of your import clients’ goods. Properly vetting your customs bond provider and the surety company they represent will help you deliver on your client’s service expectations. Here are some  essential characteristics to consider  when making this critical decision. 1. Longevity, Experience, and Service A good starting point in the vetting process is to look for a partner that demonstrates staying power in the industry and aligns with your company’s standards and […]