Temporary Importation Bonds; Anticipatory Breach, Assessment Amounts, Petitions for Relief

Résumé

This document amends the Customs Regulations to permit anticipatory breach and provide for early payment of liquidated damages in Temporary Importation Bond (TIB) cases. It also amends the regulations to permit assessment of liquidated damages in excess of double the duties in those cases where the district director requires extra bonding in order to protect the revenue and to state that the term ``duties'' for TIB assessment shall also include any applicable merchandise processing fees that otherwise would be charged on an entry for consumption. Finally, the document amends the regulations to eliminate forwarding of petitions for relief in TIB cases to Customs Headquarters when the bond principal or surety is dissatisfied with the decision on the petition afforded by the district director.