QuestionsQuestions (CUSTOMS MEMORANDUM ORDER NO. 12-2018)
To implement the Automated Bonds Management System (ABMS) on Re-export Bonds in all Customs ports and to provide detailed process instructions to declarants, brokers, importers, VASPs, surety companies, and BOC personnel.
It applies to all bonding (surety) companies accredited pursuant to Customs Memorandum Order (CMO) No. 22-2003.
They must file a one-time registration with the Client Profile Registration System (CPRS) of the E2M Customs System.
The Collection Service activates the account for surety companies that are granted quarterly Authority to Transact Business as Surety (ATBAS); it de-activates the account if the surety fails to renew the ATBAS or if its application does not meet Bureau requirements.
CMO 22-2003 and CMO 14-2012.
Procedure 5300/000(5A) of Box 37 of the Import Entry Declaration for Re-export Bond as Terms of Payment (TOP).
The temporary import entry declaration must be accompanied by the appropriate Tax Exemption Certificate (TEC) issued by the Department of Finance.
To ensure the proper code is used and that the temporary import entry declaration is accompanied by the required Tax Exemption Certificate (TEC).
If the posted bond is insufficient and/or there is any inconsistency on the entry.
Processing of the export declaration shall follow Annex B of CMC 115-2015.
It cites Annex A of CMC 115-2015.
It cites Annex B of CMC 115-2015.
It takes effect immediately.
Declarants, brokers, importers, Accredited Value-Added Service Providers (VASPs), surety companies, and BOC personnel.
CMO 12-2018 reiterates and specifies how to use the procedures and annexes (Annex A for temporary import entry filing and Annex B for export declaration processing) under CMC 115-2015.