Here is an example of how the assessment of liquidated damages could be applied in the context of an Importer Security Filing (ISF):

Let’s say that an importer fails to file an ISF for a shipment they are importing into the United States. As a result, CBP determines that the importer is in violation of the ISF requirement. Under the interim final rule, CBP has the authority to assess liquidated damages against the importer in addition to any other penalties that may apply under other provisions of law.

The amount of liquidated damages that may be assessed will depend on the specific circumstances of the case. For example, the liquidated damages may be based on the value of the shipment, the length of time that the ISF was not filed, or other relevant factors.

It’s worth noting that the assessment of liquidated damages is intended to provide a financial incentive for importers to comply with the ISF requirement and to ensure that CBP has the necessary information to properly assess the risks associated with imported shipments.