C.F.R. » Title 19 » CHAPTER I—U.S. CUSTOMS AND BORDER PROTECTION, DEPARTMENT OF HOMELAND SECURITY; DEPARTMENT OF THE TREASURY › PART 113—CBP BONDS › Subpart C—Bond Requirements

19 C.F.R. § 113.27

Effective dates of termination of bond

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(a) Termination by principal/co-principal. A written request by a principal or co-principal to terminate a bond must be mailed, faxed, or emailed to the Revenue Division or, in the case of a bond relating to repayment of erroneous drawback payment, to the drawback office where the bond was approved. The termination will take effect on the date requested if that date is at least 10 business days after the date CBP receives the request. If no termination date is requested, the termination will take effect on the tenth business day following the date CBP receives the request.

(b) Termination by surety. A surety may not disavow already incurred obligations but may, with or without the consent of the principal, terminate its agreement to accept future obligations on a bond. The surety must provide reasonable notice of termination, made pursuant to the methods set forth in paragraph (a) of this section, to both the Revenue Division or a drawback office, as appropriate, and to the principal. The notice must state the date on which the termination will be effective. Thirty days will constitute reasonable notice unless the surety can show to the satisfaction of CBP that a shorter time frame is reasonable under the facts and circumstances.

(c) Effect of termination. If a bond is terminated, no new customs transactions may be charged against the bond. A new bond in an appropriate amount on CBP Form 301, containing the appropriate bond conditions set forth in subpart G of this part, must be filed before further customs activity may be transacted.

[CBP Dec. 15-15, 80 FR 70164, Nov. 13, 2015]
Notes of Decisions
Cited in 3 cases, 2009–2015 · leading case: Nat'l Fisheries Inst., Inc. v. United States Bureau of Customs & Border Prot., 637 F. Supp. 2d 1270 (Ct. Intl. Trade 2009).
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Nat'l Fisheries Inst., Inc. v. United States Bureau of Customs & Border Prot., 637 F. Supp. 2d 1270 (Ct. Intl. Trade 2009). · cites it 2× “With respect to current bonds, Customs announced in the April 2009 Notice that “on or after the publication of this notice, an importer with a current bond that was calculated using the [enhanced bonding requirement] may request termination pursuant to [ 19 C.F.R. § 113.27 (a) ]…”
United States v. Great Am. Ins. Co. of Ny, 791 F. Supp. 2d 1337 (Ct. Intl. Trade 2011). · cites it 2× “See 19 C.F.R. § 113.27 . In contrast, the STBs at issue each covered a discrete activity pursuant to a single entry.”
United States v. Am. Home Assurance Co., 2015 CIT 141 (Ct. Intl. Trade 2015). · cites it 2× “United States, 25 CIT 447 , 455 (2001)) (citing 19 C.F.R. §§ 113.27 , 113.61). As noted, unlike á single transaction bond, a continuous bond can be terminated by the surety.”
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