🙋‍♂️Customs Penalty & Liquidated Damages: How Are They Different? What Are They?

Customs Penalty & Liquidated Damages both come on the same form from CBP, but they are different and one involves a Customs bond (a surety) who is responsible for paying Customs if the importer fails to pay the claim or file a petition for mitigation. In this video, attorney Jason P. Wapiennik of Great Lakes Customs Law (greatlakescustomslaw.com) talks about the differences. You will also find these resources helpful:

👉 Notice of Liquidated Damages https://greatlakescustomslaw.com/notice-of-liquidated-damages-cbp/
👉 Petition for Mitigation of Liquidated Damages https://greatlakescustomslaw.com/great-lakes-customs-law/petition-for-mitigation-or-remission-relief-from-customs-decision/
👉 Offer in Compromise of CBP Claim https://greatlakescustomslaw.com/offer-in-compromise-cbp-clai/