§ 113.45. Charge for production of a missing document made against a continuous bond.
79 words·~1 min read·
/us/cfr/t19/s§ 113.45·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
When a continuous bond secures the production of a missing document and the bond is breached by the principal's failure to timely produce that document, the claim for liquidated damages must be in an amount equal to the amount of the single transaction bond that would have been taken had the transaction been covered by a single transaction bond. \[T.D. 84-213, 49 FR 41171, Oct. 19, 1984, as amended by CBP Dec. 15-15, 80 FR 70167, Nov. 13, 2015\]