CBP Clarifies eBond Test
CBP clarified its eBond pilot program to explain how continuous bonds executed outside the pilot can be converted to eBonds. The clarification (here) modifies the pilot to make clear "a participating surety or the surety’s agent may also transmit, via [Electronic Data Interchange], the same types of limited changes to the terms and conditions of an active paper continuous bond accessible in the eBond system." The agency also clarified that the CBP filing identification number, not a name, will be used to identify the principal on an eBond.
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The test procedures are also modified to say "a surety wishing to terminate an eBond must notify the principal(s) at the same time notice of termination is sent to CBP." A surety may also request that a termination go into effect sooner "than the prescribed 15 calendar days from the date of the termination notice if the surety can establish" that "good cause exists," it said. CBP said it is "also modifying the eBond test to permit a principal to terminate an eBond on which it is obligated by means of emailing a termination request to CBP." The eBond pilot, which began Jan. 3 (see 1411260026), is meant to evaluate the automation of CBP’s bond program.
(Federal Register 01/07/15)