By now you probably know US Customs and Border Protection (CBP) issued its proposed import security filing rule – the 10+2 rule – on January 2 requiring U.S. importers and carriers to provide cargo data not found on a ship's manifest. BDP has been closely monitoring progress of the long awaited regulation. We are organizing our operations and technology assets to have a seamless process in place well in advance of when the regulation goes into affect.

Based on what we know right now, after the formal public “comment period” which has been extended to March 18 has been completed, the rule could be finalized and published in April / May, with a phased implementation beginning in September / October.

According to the U.S. Office of Management and Budget (OMB), the 10+2 rule will cost industry from $390 million to $690 million per year. The costs will come from security filing transaction costs/fees to importers, as well as anticipated supply chain delays and the cost to carriers for transmitting the additional data to CBP.

If 10+2 is enacted in its present form and you are an importer who fails to meet the Importer Security Filing (ISF) requirements of the new regulation, your company will be fined the value of the imported merchandise.

BDP customers in growing numbers have been seeking advice about the impending 10+2 rule, to better understand its scope and practical implications. Beginning February 26, BDP will host a series of webinars to address questions and help customers begin to prepare for the new regulation. Additional details about registering for the free webinars will be forthcoming within the next few days.

Going forward, all inquiries about 10+2 can be sent to Michael Ford, Vice President - Quality and Compliance (mford@bdpnet.com).