Revenue Division Updates
February 24, 2010
Roanoke Trade has been advised of the following updates by the Revenue Division. Please see below for a summary of these updates. Additional information may be found at CBP's website. Additional Time Needed for Processing CTBs
The Revenue Division is experiencing a high volume
of continuous bond submissions and is unable to
process submissions within its normal five business
day standards. Please allow up to ten full business
days for all new submissions, including reject
responses. In addition, please refrain from making
status requests whenever possible, as such requests
pull resources from processing the new submissions.
The Revenue Division explained these delays are not the result of the Importer Security Filing bond requirement. Rather, they are processing more continuous import bonds. In 2009, The Revenue Division approved more continuous bonds than ever before in the history of CBP.
Centralization of Continuous Bonds
Effective March 1, 2010, the Revenue Division will
begin processing all continuous bonds including
riders and terminations. The Revenue Division will not
be responsible for verifying the bond amount is
accurate. The amount of the bond for non-import
activity (i.e., warehouse bonds, container freight
station bonds, etc.) must still be approved by the local
port. We recommend submitting a copy of the local
port's approval when submitting a new non-import
bond to the Revenue Division.
Experience, Stability, & Progress
In today's challenging economic environment, we
encourage you to review the A.M. Best rating of your
surety company periodically. Visiting www.ambest.com
will enable you to search financial ratings and reach
your own objective conclusions about the stability of
the surety you are using.
Roanoke Trade provides bonds from "A" (excellent) A.M. Best financially rated surety companies and has the latest technology to simplify your bond issuance process. Roanoke Trade is committed to serving your needs now and in the years to come.
Sincerely, Roanoke Trade Services, Inc.
Affiliate of Watkins Underwriters at Lloyd's and a Member of Munich Re
email:
marketing@roanoketrade.com
phone:
1-800-ROANOKE
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