Conditional Bond Termination Form now Available from Roanoke Trade
November 20, 2008
CBP's Bond Centralization Team recently launched a
process that allows for a conditional termination date
when the original date would cause a gap in bond
coverage. The intention is to ensure that even if the
processing of the new bond is delayed, the
termination date will be the calendar day prior to the
effective date of the new bond. This conditional
termination will only be applied by CBP if they receive
written consent from the surety on the terminating
bond.
For your convenience, Roanoke Trade is automatically including the required surety consent language on the 'Conditional Bond Termination and New Bond Request' forms, and they are readily available for our clients within FastBondTM under the Print menu. Contact us today if you do not already have a login to FastBondTM, or call your Roanoke Trade service representative for more information. Please remember that there are exceptions to CBP's acceptance of a conditional termination; therefore, we urge you to review CBP's requirements in full. Roanoke Trade worked hard with the trade and CBP to get this passed for our clients and we're pleased to be able to advise that it is now available. Thank you for working with Roanoke Trade, we appreciate the opportunity to serve you!
Roanoke Trade Services, Inc.
A member of Munich Re and Watkins Syndicate at Lloyd's
email:
marketing@roanoketrade.com
phone:
1-800-ROANOKE
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