Appendix C to Part 113 - Bond for Deferral of Duty on Large Yachts Imported for Sale at United States Boat Shows
19:1.0.1.1.17.7.311.16.7 : Appendix C
Appendix C to Part 113 - Bond for Deferral of Duty on Large Yachts
Imported for Sale at United States Boat Shows Bond for Deferral of
Duty on Large Yachts Imported for Sale at United States Boat Shows
____, as principal, and ____, as surety, are held and firmly
bound to the UNITED STATES OF AMERICA in the sum of ____ dollars
($____), for the payment of which we bind ourselves, our heirs,
executors, administrators, successors, and assigns, jointly and
severally, firmly by these conditions.
Pursuant to the provisions of 19 U.S.C. 1484b, the principal has
imported at the port of ____ a dutiable large yacht (exceeding 79
feet in length, used primarily for recreation or pleasure, and
previously sold by a manufacturer or dealer to a consumer)
identified as ____ for sale at a boat show in the United States
with deferral of entry completion and duty deposit and has executed
this obligation as a condition precedent to that deferral.
A failure to inform CBP in writing of an exportation, or to
complete the required entry, within the 6-month bond period will
give rise to a claim for liquidated damages unless the principal
informs CBP of the exportation or completes the entry within the
time limits prescribed in 19 CFR 4.94a. If the principal fails to
comply with any condition of this obligation, which includes
compliance with any requirement or condition set forth in 19 U.S.C.
1484b or 19 CFR 4.94a, the principal and surety jointly and
severally agree to pay to CBP an amount of liquidated damages equal
to twice the amount of duty on the large yacht that would otherwise
be imposed under subheading 8903.91.00 or 8903.92.00 of the
Harmonized Tariff Schedule of the United States. For purposes of
this paragraph, the term duty includes any duties, taxes, fees and
charges imposed by law.
The principal will exonerate and hold harmless the United States
and its officers from or on account of any risk, loss, or expense
of any kind or description connected with or arising from the
failure to store and deliver the large yacht as required, as well
as from any loss or damage resulting from fraud or negligence on
the part of any officer, agent, or other person employed by the
principal.
WITNESS our hands and seals this ____ day of ____ (month), ____
(Year).
(Name) (Address)
_______________ [SEAL]
(Principal)
_______________ [SEAL]
(Name) (Address)
_______________ [SEAL]
(Surety)
Certificate as to Corporate Principal
I, _____, certify that I am the* _____ of the corporation named
as principal in the attached bond; that _____, who signed the bond
on behalf of the principal, was then _____ of that corporation;
that I know his signature, and his signature to the bond is
genuine; and that the bond was duly signed, sealed, and attested
for and in behalf of the corporation by authority to its governing
body.
_______________
(CORPORATE SEAL)
(To be used when no power of attorney has been filed with CBP.)
*May be executed by the secretary, assistant secretary, or other
officer of the corporation.
[68 FR 13626, Mar. 20, 2003, as amended by CBP Dec. 15-15, 80 FR
70170, Nov. 13, 2015; CBP Dec. 16-26, 81 FR 93017, Dec. 20, 2016]