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More BOC ports switch to automated bonds management system
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The ports of Cebu, Davao, Cagayan de Oro, Subic, Dadiangas, Iloilo, Tacloban, Zamboanga, and Batangas will switch to BOC’s Automated Bonds Management System for general warehousing bonds starting April 25
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All filers of electronically lodged warehousing goods declarations are required to attach the approved bond policy to their submissions from April 25 onward
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Implementation of CMO 17-2021 will end the practice of charging against the GWB duties and taxes due on shipments for transit to customs bonded warehouses
Starting April 25, the Bureau of Customs (BOC) will implement its Automated Bonds Management System (ABMS) for general warehousing bond (GWB) at the ports of Cebu, Davao, Cagayan De Oro, Subic, Dadiangas, Iloilo, Tacloban, Zamboanga, and Batangas.
With the ABMS system in place, filers of warehousing goods declarations electronically starting April 25 are required to attach the approved bond policy to their submissions, according to Office of the Commissioner Memo No. 50-2022 dated April 12.
BOC warehousemen at the ports should add the tag “Validate” to the processed and paid warehousing single administrative document (W-SAD) in BOC’s Electronic-to-Mobile (e2m) System once it arrives at the warehouse.
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.
Implementation of the ABMS for GWB is covered by CMO 17-2021, which provides implementing guidelines for the GWB through the ABMS.
CMO 17-2021 aims to “effectively monitor the status of bond from its posting up to its cancellation and expedite the settlement or collection of due and demandable bonds.”
READ: BOC issues rules on general warehousing bond under ABMS
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 which 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 the implementation of CMO 17-2021, the practice of charging against the GWB 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 to its account.
Once the goods declaration for warehousing has been 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.
CMO 17-2021 designated the Port of Manila as the pilot port and started implementing the ABMS at the port last August. In March this year, the system was implemented at the Ninoy Aquino International Airport. – Roumina Pablo
