CBP will begin the liquidated damages phase of ISF enforcement on July 9, 2013, adding to the use of manifest holds and non-intrusive inspections to enforce ISF compliance. In order to achieve maximum compliance with the least amount of disruption to the trade and to domestic port operations, CBP has been applying a measured and commonsense approach to enforcement.
Liquidated damages of $5,000 per violation may be issued by CBP for the submission of an inaccurate, incomplete or untimely filing. Simply, liquidated damages is a penalty secured by a bond. If goods arrive where an ISF has not been filed, the release or transfer of the cargo may be withheld. Additionally, cargo could be subject to further inspection upon arrival.
To read the complete article: ISF next phase
For ACE portal accounts: CSMS #13-000298
To read more about ISF, check out this web page on the CBP website: CBP: Security Filing “10 + 2″
If you have questions, please contact us at SFSIMP@supfrt.com