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.