2009 April No.54 – FP&F


54. When submitting an offer in compromise on behalf of a client to settle a claim for liquidated damages, or a penalty, the broker must also submit

A. a petition for relief

B. a copy of the penalty notice

C. a tender of funds

D. a copy of the power of attorney

E. 3 copies of the submission 55. The liquidated damages amount for failing to redeliver restricted or prohibited merchandise that fails to comply with the laws or regulations governing admission into the U.S. is _____.

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The Answer is: C

Citation: 19 CFR 161.5; 172.31

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