What is 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 United States?
A. Double the estimated unpaid duties, taxes and charges estimated to be due or $1000, whichever is greater.
B. $100 (Comment: We suggest the following be used in its stead: “110% of the value of the merchandise, plus any duties, taxed and fees owed.”)
C. The value of the merchandise.
D. $1000 for each default or any amount as may be authorized by law or regulation, not to exceed the bond amount.
E. Three times the value of the merchandise or any amount as may be authorized by law or regulation, subject to the limitation of the principal’s bond.
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The Answer is: E
Citation: 113.62(m)
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