FAQs on Trade Regulations

▪

4 elements must be submitted accurately 24 hours PRIOR to container lading onto US-bound vessel

-

▪

4 elements should be as accurately submitted 24 hours PRIOR to container lading. Accurate information must be submitted as soon as it’s available but no later than 24 hours PRIOR to arrival

-

2 elements could be submitted no later than 24 hours PRIOR to arrival

-

2 sets of data elements to be submitted by the Carriers

-

Learn more about the required elements in our Practical Guide to 10+2.

Leverage 10+2 Elements to Reduce Data Errors and find out how importers are using ISF as a strategic initiative in our SupplyChainBrain.com video interview, "Strategic Opportunities that 10+2 Presents."

Top

Thorough preparation and timely filing by the ISF Importer or via its designated agent

CBP’s acceptance or rejection of the ISF filing

CBP’s final disposition when the ISF is matched with AMS’ BOL information (30 day grace period)

Our Practical Guide to 10+2 provides additional detail on CBP’s process

Top

▪

The ISF Importer is ultimately responsible for the complete, accurate and timely filing - regardless of who does the actual filing for you

Non-compliance will likely result in supply chain disruptions

-

▪

While there will be no penalties issued during the Flexible Enforcement Period (between now and January 25, 2010), CBP will take the following considerations when enforcing the rule:

▪

"10+2" may be a US Import requirement today but similar initiatives are now underway or in considerations in several region/countries (EU, China, Canada and Mexico)

-

▪

Starting January 26, 2010, CBP will enforce a $5,000 penalty for non-compliance - which could include non-timely or inaccurate filings. A recent study published by American Shipper/BPE indicated only 37% of the respondents have a high degree of confidence that their ISF filings are timely, complete and accurate. And it was estimated that 17% of US-bound shipments may not meet the compliance deadline. For an importer with 1,000 shipments a year, a 17% failure will translate into a $850,000 penalty.

▪

Elements of 10 + 2 filings are the same for other import documentation and can be leveraged to reduce data inaccuracies. To turn ISF Requirements into Opportunities, watch our video interview, Strategic Opportunities that 10+2 Presents.

Top

▪

Leveraging the ASN / Pre-Customs Entry for both ISF and the Entry

▪

Validating ISF data with alerts and workflow

▪

Posting initial-ISF alerts and workflow for CBPs accept/reject and other disposition messages

▪

Integrating with one standard message set to any ISF or Entry service provider

▪

Filing the ISF directly from Trade Import

▪

Generating reports for both the ISF and CSF (Carrier Security Filing)

▪

Read more about how an automated import compliance solution can help with 10+2 in our Practical Guide to 10+2

Top

With Management Dynamics’ Global Trade Management solution, the premise is to establish a compliant product file that could be leveraged with your shipment transaction - resulting in what we called a Pre-Customs Entry (PCE). This PCE serves as your foundation for both the ISF and the entry preparation. Knowing that not all trade lanes are equal, our solution allows you to submit the ISFs via your service partners (consolidator, broker, etc.) or via Management Dynamics’ direct filing with CBP.

Download our Customs 10+2 Compliance Solution Brochure to see how our solution helps your company ensure compliance and avoid penalties

Top

Most customers are still in a pilot mode with an interim solution today - likely leveraging their service provider and manual data entry. Current implementations are underway with clients to automate the PCE process for electronic filing as part of the overall import management process.

Not surprisingly, a key issue that appears is the data readiness of your supply chain partners – can they provide you the data elements for a timely filing and subsequently, an accurate filing based on the interim final rule’s new flexibility?

For most of our customers who have implemented the PCE process, they are already prepared with 80% of the data requirements today!

See how one of our customers has prepared by in our webinar, "Automating the Import Supply Chain with Leggett & Platt."

Given the flexibility of filing the consolidator and stuffing locations 24 hours prior to arrival - instead of 24 hours prior to container lading - alleviates significant timely filing concerns for our customers - as these are information that could be garnered and submitted to CBP after the ship sails.

The need to comply with regulations such as 10+2 can drive investment in GTM technologies and generate a number of additional benefit areas by viewing this as a strategic initiative. Elements of 10+2 filings are the same for other import documentation. Leverage the former and reduce data inaccuracies, in our video interview on the strategic opportunities that Customs 10+2 presents for importers.

Top