Trade Compliance Blog

CBP will be presenting a 10+2 Outreach seminar at the following locations in the month of September. According to their website, the sessions are designed to teach importers, exporters, and others in the industry about ISF. Other countries have similar initiatives in the works, so even for exporters this is a good opportunity to learn [...]

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. [...]