April 2019 — Question 38
In reference to Single Entry Bonds, choose the statement below that is TRUE.
- AThe termination date of a single entry bond is determined at the time of the submission of the bond.
- BA single entry bond may be used only for merchandise moving in bond from another port.
- CAs a general rule, the bond limit of liability on a single entry bond is 25% of the value of the merchandise.
- DThere is a minimum limit of liability of $100 on a single entry bond, except when the law or regulation expressly provides that a lesser amount may be taken.✓ CBP's answer
- EA single entry bond should have an effective date that is 10 working days after release of the merchandise covered by the bond.
Why this answer
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CBP's cited authority
§ 19CFR113.13(a)
Answer and citations as published in CBP's official answer key for the April 2019 examination.
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