One condition of the basic importation and entry bond is that an importer of record will redeliver merchandise if ordered to do so by CBP. If an importer of record fails to timely redeliver a shipment of restricted merchandise, the importer of record is subject to liquidated damages in which of the following amounts?
A. Three times the value
B. Double duty
C. Value plus duty
D. 110 percent of the duty
E. 2.5 to 4 times the loss of revenue
[bg_collapse view=”button-green” color=”#4a4949″ icon=”arrow” expand_text=”Show Answer and Citation” collapse_text=”Hide Answer and Citation” ]
The Answer is: A
Citation: 113.62(m)
[/bg_collapse]