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Under Customs Memorandum Order 17-2021, the Bureau of Customs implemented on June 15 its automated bonds management system (ABMS) for general warehousing, with the Port of Manila as pilot port
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All surety companies and customs bonded warehouse (CBW) operators must be accredited in the BOC E2M-Client Profile Registration System
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Under CMO 17-2021, the current practice of charging against the general warehousing bond the amount of duties and taxes due on shipments for transit to CBWs will be discontinued
The Bureau of Customs (BOC) implemented on June 15 its automated bonds management system (ABMS) for general warehousing, with the Port of Manila as the pilot port.
Customs Memorandum Order (CMO) 17-2021 aims to “effectively monitor the status of bonds from its posting up to its cancellation and expedite the settlement or collection of due and demandable bonds.”
ABMS is a BOC-wide system for processing bond transactions that was established under CMO 14-2012 in order to monitor and manage bond balances and flag those that have matured.
READ: BOC issues rules on general warehousing bond under ABMS
In Office of the Commissioner Memo No. 95-2021 dated June 11, Customs commissioner Rey Leonardo Guerrero said the ABMS for general warehousing bond (GWB) is ready and available in the bureau’s Electronic-to-Mobile (E2M) System starting June 15.
With this, all surety companies and customs bonded warehouse (CBW) operators must be accredited in the BOC E2M-Client Profile Registration System. The submission and approval of bond policies and the creation of bond accounts in the ABMS have also started on June 15.
CMO 17-2021 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 exclusively used to secure the duties and taxes reflected in the warehousing single administrative document (WSAD). A GWB is a form of security to guarantee that obligations to BOC have been satisfied.
Approved bond policies filed in the current year will expire on the 31st day of December of the calendar year.
With the 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 CBWs will be discontinued. Instead, the CBW operator must open a bond account for the transit of the 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 their account.
Once the goods declaration for warehousing is lodged, the Warehousing Entry System sends a request to the ABMS to charge against a particular bond account. If the goods declaration is cancelled, the ABMS cancels the amount charged and reverts to the previous bond balance.
