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TRG's Award Winning Staff
2009 Pros to Know
Mike Laden and Kelby Woodard of TRG Direct have been acknowledged as Supply & Demand Chain’s 2009 Pros to Know. Recipients of this award have personally helped clients address the challenges of the recession and prepare for the recovery ahead. Congratulations and well deserved!
ICPA Founders Awards
We can’t say we were surprised this March when Greg Hodge of TRG was awarded the 2009 ICPA Founders Award at the annual conference. A true advocate of the ICPA, Greg referred the most new members to the ICPA in 2009.
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US Customs Correspondence: Can CBP Find You?
If you have a US Customs import bond on file, it is imperative that you make sure to update your company’s address in the event of a move. Should your company change names or locations it is imperative to let CBP know. This is done with an address or name change rider and can easily be completed by the surety that holds your bond. Is the information on your bond up-to-date?
What can go wrong if Customs does not have my correct address?
Customs sends all correspondence regarding the bond to the mailing address on file with the import bond. If your address is not updated, you may not be receiving important correspondence from CBP.
Customs sends via US Mail:
Liquidated damages,
Supplemental duty bills,
Courtesy liquidation notices,
Bond increase letters.
One of the most common problems associated with missing correspondence from Customs is bond insufficiency. If US Customs issues a bond increase, they will send a written notification to the address on the bond. Customs will provide the importer with a 30 day warning to increase the size of the bond. If you receive an increase letter provide your surety with a copy of the letter. The surety will then have to terminate the current bond and replace it with a new larger bond. If this is not handled in a timely manor, the current bond will be rendered insufficient and your company will have a lapse in coverage until a new continuous bond can be placed (usually 10 business days).
Who do I contact?
TRG Bond™ Clients: If you are a customer of TRG Bond™ please send an email to askanexpert@traderiskguaranty.com. Please include your company name, old address and new address. You will then be contacted by Kimbree Baker in TRG Bond’s processing department. It will take Customs 10 business days to process an address change.
Not a TRG Bond™ Client?: To update your bond information, you will need to contact the surety with whom the bond was placed. If you purchased your bond through a third party such as a Customs broker or Freight Forwarder, you will need to contact them and have them contact the surety to update the bond. If you are not sure what surety your bond is placed with, give TRG Bond™ a call. We can get that information to you right away.
Other bond related questions?
Our experts can help you with any Customs bond related question. Send an email to askanexpert@traderiskguaranty.com