-
BOC’s Automated Bonds Management System for general warehousing bond is now in force at Ninoy Aquino International Airport
-
From March 15 onwards, ABMS requires attachment of the approved bond policy to all electronically lodged warehousing goods declarations
The Bureau of Customs is now implementing its Automated Bonds Management System (ABMS) for general warehousing bond (GWB) at the Ninoy Aquino International Airport.
Starting today (March 15), it is mandatory to attach the approved bond policy to all electronically lodged warehousing goods declarations, according to Office of the Commissioner Memo No. 29-2022 dated March 4.
The BOC warehouseman at the Port of NAIA should tag “Validate” the processed and paid warehousing single administrative document (W-SAD) in BOC’s Electronic-to-Mobile (e2m) System once it arrives at the warehouse, the memo said.
ABMS, a BOC-wide system for processing bond transactions, was established under Customs Memorandum Order No. 14-2012 to monitor and manage bond balances and flag those that have matured.
The implementation of ABMS for GWB is covered by CMO 17-2021, which provides guidelines for implementing the GWB through ABMS.
READ: BOC issues rules on general warehousing bond under ABMS
CMO 17-2021 aims to “effectively monitor the status of bonds from (their) posting up to (their) cancellation and expedite the settlement or collection of due and demandable bonds.”
The CMO applies to all warehousing bond accounts opened under the e2m System in all collection districts, including sub-ports and other offices.
The GWB will be used exclusively to secure duties and taxes reflected in the W-SAD. A GWB is a form of security that guarantees that obligations to BOC have been satisfied.
Approved bond policies filed in the current year will expire on December 31 of the calendar year.
With implementation of CMO 17-2021, the current practice of charging against the GWB the amount of duties and taxes due on shipments for transit to customs bonded warehouses (CBWs) will be discontinued. Instead, the CBW operator must open a bond account for the transit of goods from the port of discharge to the CBW.
The CBW operator should create a bond account by submitting the bond policy electronically to BOC through an accredited value-added service provider. The CBW operator can add more bond policies in its account.
Once the goods declaration for warehousing is lodged, the Warehousing Entry System sends a request to ABMS to charge against a particular bond account. If the goods declaration is cancelled, ABMS cancels the amount charged and reverts to the previous bond balance.
CMO 17-2021 designated Port of Manila as the pilot port with full implementation of the ABMS on GWB in August 2021. – Roumina Pablo
