Responsible Supervision and Control
Subscribe
Sign-up to our newsletter, get access to exclusive tips about freight forwarding weekly update!
What impact did the Customs Modernization Act have on commerce?
The implementation of the Customs Modernization Act by CBP had a significant impact on commerce, particularly with the introduction of "informed compliance" and "shared accountability."
How does "informed compliance" and "shared accountability" work in CBP compliance?
"Informed compliance" and "shared accountability" require cooperation between the trade community, importers, and brokers. Importers are responsible for using reasonable care, while brokers must exercise responsible supervision and control.
What happens if responsible supervision and control are not applied?
CBP can impose hefty fines on brokers if audits reveal a lack of responsible supervision and control based on the degree of non-compliance.
What are the requirements for responsible control and supervision according to CBP?
How can brokers and importers ensure CBP compliance?
Brokers must adhere to CBP's requirements for responsible supervision and control, while importers are accountable for using reasonable care in their customs transactions.
What are the consequences of non-compliance with CBP regulations?
Non-compliance with CBP regulations can result in hefty fines for brokers, making it crucial for both brokers and importers to meet the requirements for responsible control and supervision.
Where can I find detailed information about CBP compliance regulations?
You can find detailed information about CBP compliance regulations in Title 19 CFR Part 111.1.
More from Beeontrade