July 07, 2015 | Industry Insights

All Solar Panel Bonding Requires Surety Approval

Share This:
Featured Image

The strategic significance of development and promotion of renewable energy in the twenty-first century has profoundly affected the solar panel industry worldwide. Increased foreign production in this key sector has generated heightened sensitivity to international competitive factors, in turn spawning special tariff measures to ensure a level playing field for all.

U.S./China trade has been materially impacted by the foregoing. The first set of U.S. ADD/CVD orders (A-570-979 and C-570-980) on solar panels and cells from China was published in late 2012. Those orders do not apply to panels produced in China from cells originating in a third-country, but they do apply to panels assembled in third-countries using Chinese cells.

A second set of orders (A-570-010 and C-570-011) was published early this year. These orders specifically apply to panels produced in China from cells originating in a third-country. The Department of Commerce (“DOC”) simultaneously published an ADD order on solar panels and cells from Taiwan, applicable also to third country panels comprised of Taiwanese cells.

ADD/CVD rates on solar panels range from approximately 3% to 250% ad valorem.

The foregoing creates abundant opportunity for confusion in the international trade community and even for CBP as it struggles to enforce what DOC has mandated. More importantly, it brings great potential for serious loss to importers and their sureties – meanwhile, aggravating customs brokers’ exposure to E&O claims and/or penalties for failure to exercise “reasonable care.”

Please contact your Roanoke Bond Service Representatives to obtain approval of any bond involving solar panels, irrespective of country of origin and to present any questions you may have.

DOC cautions importers and others that HTSUS subheadings appearing in DOC notices are provided for convenience and customs purposes only and that their written description of the scope of orders is dispositive. Importers are strongly advised to engage the services of licensed customs brokers and qualified customs attorneys before engaging in trade involving possible ADD/CVD exposures. 

Share This:

Related


Is your Business Exposed to the Risks of Employee Distracted Driving?

The National Safety Council(NSC) recognizes April as Distracted Driving Awareness Month. They estimate that 4,000 deaths and 276,000 injuries occur yearly because of distracted driving crashes. Additionally, distracted driving is the cause of 10% of all fatal crashes. Many of these accidents and fatalities are attributed to drivers engaging in risky behavior such as cell phone use, eating/drinking, reaching for an object, talking to a passenger or reading GPS. Not wearing seatbelts, speeding and use of alcohol makes these accidents much worse. Additionally, the stressors of the pandemic, returning to work, and other social factors have increased the cognitive distraction […]

Commercial Business Insurance, Industry Insights

What to Watch: Insurance, Regulatory Changes for Freight Brokers and Forwarders

By Glenn Patton, Managing Director, Roanoke Insurance Group Canada, Inc.   The following are several important issues regarding the insurance industry and regulatory changes that impact freight brokers and forwarders. With so many Canadian freight brokers and forwarders conducting cross-border business, U.S. regulatory changes affect the entire industry. Nuclear verdicts in liability cases in the U.S. involving motor carriers have included freight brokers. Nuclear verdicts against trucking companies in the U.S. have reached tens and hundreds of millions of dollars in the past decade or so. In their lawsuits, plaintiffs in accidents with motor carriers have named all parties involved […]

Industry Insights

Thank You to Karen Groff

We have important news to share with you. Karen Groff, President of Roanoke Insurance Group, has decided to leave the organization. Although our hearts are heavy with this news, we respect her decision and wish her all the best in her future endeavors. Karen played an integral role in Roanoke’s success over the past 30 years and solidified “The Roanoke Way” during her tenure as President. In her own words, Karen shares: “I will always treasure my time spent with Roanoke colleagues, clients and partners. The strong engagement and sense of community shared in this industry have been a constant inspiration […]

Industry Insights

Roanoke is the leading provider of insurance and surety solutions for transportation and logistics providers. In fact, we are recognized as the most reliable source for U.S. customs bonds.

Contact

If you have any questions or need help, feel free to contact with our team.

800-762-6653

US CORPORATE HEADQUARTERS

1501 E. Woodfield Road

Suite 400W

Schaumburg, IL 60173


CANADA CORPORATE HEADQUARTERS

390 Bay Street

Munich Re Centre, 22nd Floor

Toronto, ON M5H 2Y2

Solutions that Go the Distance.

© 2024 Roanoke Insurance Group Inc.

Better Business Bureau logoCoverholder at Lloyd's logo