Law Summary
Purpose and Target Groups
- Provides detailed instructions to declarants, brokers, importers, Accredited Value-Added Service Providers (VASPs), surety companies, and Bureau of Customs (BOC) personnel.
- Ensures conformity with customs procedures related to Re-Export Bonds under ABMS.
- Reinforces adherence to prior Memoranda and Circulars relevant to the subject.
Scope of Application
- Applies exclusively to bonding companies accredited under Customs Memorandum Order No. 22-2003.
Registration, Activation, and De-Activation of Surety Company Accounts
- All accredited Surety Companies must complete a one-time registration with the Client Profile Registration System (CPRS) of the E2M Customs System.
- The Collection Service is responsible for activating CPRS accounts upon granting quarterly Authority to Transact Business as Surety (ATBAS).
- Accounts may be deactivated if the surety company fails to renew its ATBAS or does not fulfill Bureau requirements, ensuring compliance and accountability.
Filing of Temporary Import Entry Declaration
- Importers must file Temporary Import Entry Declarations using procedure 5300/000(5A) with Box 37 indicating Re-export Bond as Terms of Payment (TOP) per Annex A of CMC 115-2015.
- Customs Examiners are tasked to verify the use of proper codes and ensure submission of the appropriate Tax Exemption Certificate (TEC) from the Department of Finance.
- Procedures are clearly set for re-filing entries and re-export bonds in cases of insufficient bond posting or inconsistencies in the entry declaration.
Filing of Export Entry for Liquidation of Re-Export Bond
- Export Declarations meant for the liquidation of Re-Export Bonds must be processed in accordance with Annex B of CMC 115-2015.
- This ensures proper closure and accounting of the bond posted during importation.
Effective Date
- The Customs Memorandum Order takes effect immediately upon filing on September 6, 2018, instituting the ABMS framework at once for greater efficiency and compliance.