Importing and Exporting Experts
A violation will trigger a penalty for; failure to file ISF, late filing or inaccurate data. Any of these will carry a potential $5,000.00 penalty.
In the case of not file, CBP will withhold release or transfer the goods until ISF requirements has been fulfill.
Shipments which do not comply with Importer Security Filing requirements are subject to a $5,000 penalty per occurrence.
CBP has allowed a one-year period of “Flexible Enforcement” and thru informed compliance to smooth the learning curve for importers and carriers adapt to the new 10+2 regulations without the threat of fines.
To prepare for any potential fines, we strongly suggest that first consul your custom broker or logistics service provider and consider implementing procedures that specifically address the ISF requirements. There are several ways to accomplished these requirement but your must make sure that it is address properly, taking into account the culture of your company. Finally monitor compliance with ISF requirements.
The first questions that comes to our mind is why is it so important? What difference will it make? Why change? This is the way I have always done it before. In my opinion as a custom broker the invoice is probably the most important document to import merchandise into any country. Out of this [...]
