(a)
Requirement
of bond by regulation
In
any case in which bond or other security is not specifically
required by law, the Secretary of the Treasury may by regulation
or specific instruction require, or authorize customs officers to
require, such bonds or other security as he, or they, may deem
necessary for the protection of the revenue or to assure
compliance with any provision of law, regulation, or instruction
which the Secretary of the Treasury or the Customs Service may be
authorized to enforce.
(b)
Conditions
and form of bond
Whenever
a bond is required or authorized by a law, regulation, or
instruction which the Secretary of the Treasury or the Customs
Service is authorized to enforce, the Secretary of the Treasury
may—
(1)
Except
as otherwise specifically provided by law, prescribe the
conditions and form of such bond and the manner in which the bond
may be filed with or, pursuant to an authorized electronic data
interchange system, transmitted to the Customs Service, and fix
the amount of penalty thereof, whether for the payment of
liquidated damages or of a penal sum: Provided, That when a
consolidated bond authorized by paragraph 4 of this subsection is
taken, the Secretary of the Treasury may fix the penalty of such
bond without regard to any other provision of law, regulation, or
instruction.
(2)
Provide
for the approval of the sureties on such bond, without regard to
any general provision of law.
(3)
Authorize
the execution of a term bond the conditions of which shall extend
to and cover similar cases of importations over such period of
time, not to exceed one year, or such longer period as he may fix
when in his opinion special circumstances existing in a particular
instance require such longer period.
(4)
Authorize,
to the extent that he may deem necessary, the taking of a
consolidated bond (single entry or term), in lieu of separate
bonds to assure compliance with two or more provisions of law,
regulations, or instructions which the Secretary of the Treasury
or the Customs Service is authorized to enforce. A consolidated
bond taken pursuant to the authority contained in this subsection
shall have the same force and effect in respect of every provision
of law, regulation, or instruction for the purposes for which it
is required as though separate bonds had been taken to assure
compliance with each such provision.
(c)
Cancellation
of bond
The
Secretary of the Treasury may authorize the cancellation of any
bond provided for in this section, or of any charge that may have
been made against such bond, in the event of a breach of any
condition of the bond, upon the payment of such lesser amount or
penalty or upon such other terms and conditions as he may deem
sufficient. In order to assure uniform, reasonable, and equitable
decisions, the Secretary of the Treasury shall publish guidelines
establishing standards for setting the terms and conditions for
cancellation of bonds or charges thereunder.
(d)
Validity
of bond
No
condition in any bond taken to assure compliance with any law,
regulation, or instruction which the Secretary of the Treasury or
the Customs Service is authorized to enforce shall be held invalid
on the ground that such condition is not specified in the law,
regulation, or instruction authorizing or requiring the taking of
such bond. Any bond transmitted to the Customs Service pursuant to
an authorized electronic data interchange system shall have the
same force and effect and be binding upon the parties thereto as
if such bond were manually executed, signed, and filed.
(e)
Deposit
of money or obligation of United States in lieu of bond
The
Secretary of the Treasury is authorized to permit the deposit of
money or obligations of the United States, in such amount and upon
such conditions as he may by regulation prescribe, in lieu of
sureties on any bond required or authorized by a law, regulation,
or instruction which the Secretary of the Treasury or the Customs
Service is authorized to enforce.
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