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Temporary Import Under Bond. CFR 10.31 Chapter 29. TIB. Merchandise temporarily imported for some reason… not to be entered for consumption, only exported or destroyed Temporary Import Under Bond is cancelled, not liquidated!!!!!!. Documents. CF 7501
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Temporary Import Under Bond CFR 10.31 Chapter 29
TIB • Merchandise temporarily imported for some reason… not to be entered for consumption, only exported or destroyed • Temporary Import Under Bond is cancelled, not liquidated!!!!!!
Documents • CF 7501 • Must Include a statement as to why the merchandise is here • Must include statement that it will not be sold
Must post a bond • Post Bond in amount 2x duty and fees • Some bonds are only 110% of duty • 9813.00.20 samples • 9813.00.25 motion picture advertisement film • 9813.00.50 tools of trade and professional equipment
Time allowed in the US • One (1) year from import date • Can get an extension twice for one year each • Three (3) years total • Cars (9813.00.75) - 6 months only
Miscellaneous • Can export partial or less than total at different times • Can be converted to from other type of entry • If still in Customs custody • If released and a clerical error is proved • Proof of export needed to cancel • CF 3495 is filed at port of export • Can destroy instead of export