Trade Risk Guaranty has invested in software that connects with U.S. Customs’ database allowing us to download proprietal and highly secured information. Access to Entry information is available only to TRG bond holders. Importers may access information only for their company’s bond with prior registration authorization. Eagle Eye Reporting provides information about:
Importer Bond Status (which will be covered at the end of this presentation)
Entry Status Report
Supplemental Duty Bills
Liquidated Damages Penalties
Let’s get started!
Log-in to Eagle Eye. (on Home Page, look at the top right corner for LogIn)
ENTRY STATUS REPORT:
Reflects the status of entries under each import bond. Allows you to see each entry number, entry date & status, import value, estimated duty, liquidation date & amount per bond per importer.
Entry Number – any entry filed under your TRG bond
Importer Number – Importer of Record number (IOR), tax ID or employer identification number (EIN). If an importer has affiliated companies, such as a DBA business with a different IOR, each number must be entered to Eagle Eye reporting separately.
Date Range – this is optional. If no dates are inserted, the report will give results for the life of the TRG bond.
Report Options:
* Liquidated * Unliquidated * Suspended * All Entries
TRG Entry Status report will include entry information such as:
Entry Date
Import Value
Estimated and Liquidated Duty
Liquidation Date
Entry Detail Summary is accessed by clicking on the red Entry Number.
Export TRG reports. Eagle Eye reports can be downloaded into Excel or Adobe pdf formats.
Eagle Eye VALUE: Importers can obtain a list of entries to review duty, taxes and fees. Unliquidated entries are an outstanding financial obligation to be anticipated. Suspended entries, those put ‘on hold’ until rulings are determined for final duty amounts, should be scrutinized. Suspended entries may require future additional collection of duty upon liquidation and can take years to liquidate.
Helpful links:
http://www.cbp.gov/xp/cgov/toolbox/ports/
Each port has a link to view the list of broker contacts in that area.
http://www.cbp.gov/xp/cgov/trade/priority_trade/add_cvd/adcvd_pti.xml
SUPPLEMENTAL DUTY BILLS
Includes information on additional duty bills issued for anti-dumping or countervailing duty, change in classification (HTS), or miscellaneous fees or debit vouchers. Timely response is required to avoid national sanction.
Bills may be issued for:
Anti-dumping or countervailing duty owed upon liquidated of entry
Classification or Harmonized Tariff Schedule (HTS) calculation differences
Miscellaneous – various fees, debit vouchers, etc.
Eagle Eye VALUE: It is recommended that each bill is reviewed for accuracy. If an Importer or their broker feels there is reasonable argument against the additional duties demanded, a formal Protest (CF-19) must be filed within 180 days. Customs’ decision on protests may take months or years to be processed.
Pink invoices are sent via mail by Customs to importers every 30 days until the bill has been paid. It is recommended that bills are paid in full within the first month of receipt to avoid interest accrual. If protested and approved, the payment is refunded including interest to the Importer.
Helpful link:
http://www.cbp.gov/xp/cgov/trade/priority_trade/revenue/bill_payments_sanctions/
LIQUIDATED DAMAGES PENALTIES
Liquidated Damages Penalty Notices are issued by Customs’ port office of Fines, Penalties and Forfeitures. They can carry extremely high fines! These are time-sensitive and require resolution of noncompliance along with petition or payment, or both. Failure to comply will result in bond termination and may affect an Importer’s compliance rating. Moreover, violations can alert Customs to initiate heavy scrutiny of all entries.
A penalty notice may be issued for any Code of Federal Regulation or United States code violation.
Common violations include:
Failure or untimely payment of duty or entry paperwork
Failure or untimely electronic filing of ISF
Non-compliance with FDA refusal of goods or redelivery requirements
Non-compliance with carrier bonded merchandise in transit requirements
Eagle Eye VALUE: Timely and complete resolution of entry violations is more than handling an incident; it is a reflection of your overall business practices. Investigation of the source of a violation results in an opportunity to make improvements in supply chain management and increased efficiency. Successfully petitioned penalties have resulted in either complete cancellation of the penalties or by reducing fines up to 97%.
Helpful links:
http://www.cbp.gov/xp/cgov/trade/priority_trade/penalties/
http://www.cbp.gov/xp/cgov/trade/cargo_security/carriers/security_filing/
EAGLE EYE CLAIMS
As surety agent for our clients’ import bonds, Trade Risk Guaranty is routinely notified via Eagle Eye downloads about Supplemental Duty Bills and Liquidated Damages Penalty Notices issued by Customs against our clients’ bonds.
As part of our service to you, our Claims Department emails notification and an Eagle Eye Report of Supplemental Duty Bills or Liquidated Damages to importers so the obligation may be addressed in a timely manner. Our courtesy reports are a back-up to Customs’ notices and reassurance that TRG is ready to help with resources and information to resolve matters.
Our Claims Analyst reviews each report and is available to assist importers and their agents, broker, freight forwarder or attorney, by facilitating prompt and thorough resolution with U.S. Customs.
Our goal is to provide each of our customers with a resource dedicated to helping to ensure smooth sailing in the world of importation!
Please visit the link below to view a recording of our Eagle Eye Webinar
http://www.4shared.com/video/zp5JXcVN/2010-06-29_1202_Eagle_Eye_Impo.html
