Customs 10+2 (ISF) Penalties
July 24, 2009
CBP has announced how it will calculate penalty amounts from the Importer Security Filing (aka 10+2). For the importers, a late filing can result in a $5,000 penalty for liquidated damages for each inaccurate ISF. Inaccurate filings, inaccurate updates, and the failure to withdraw an ISF can also result in $5,000 claim for liquidated damages. [...]
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