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Proposed U.S. Senate Bill Could Impact Importers, Customs Brokers, and Surety Bonds

A new bill introduced in the U.S. Senate could bring meaningful changes to how importers of record operate and how customs bonds are issued and managed. Senator Bill Cassidy recently introduced legislation intended to strengthen protections against fraudulent trade practices and the misuse of importer-of-record structures. The bill is designed to provide U.S. Customs and Border Protection (CBP) with additional tools to address concerns around non-resident importers and shell companies that may evade duties or compliance obligations. Key Provisions in the Proposed Legislation While the bill is still early in the legislative process, several provisions could affect companies involved in […]

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