BoC eyes escrow rule for cargo deconsolidators

THE Bureau of Customs (BoC) is proposing to require sea cargo deconsolidators handling balikbayan boxes to maintain an escrow deposit to safeguard shipments sent by Filipinos abroad.

In a draft Customs Administrative Order (CAO) dated Nov. 6, the BoC outlined new registration requirements for Philippine-accredited sea cargo deconsolidators.

Under the proposal, deconsolidators would be required to deposit P2 million into an escrow account, plus P500,000 for each overseas consolidator in each country of operation.

The funds would cover duties, taxes, storage charges, and delivery expenses if a deconsolidator fails to clear or deliver shipments to their recipients.

They would also be required to pay a P10,000 registration fee, with certificates valid for three years.

The draft CAO would allow the BoC to assign another deconsolidator to clear and deliver shipments that remain undeclared, unpaid, or unclaimed, with expenses charged against the defaulting company’s escrow account.

Defaulting companies would face a penalty of 25% of the expenses incurred by the assigned deconsolidator, or at least P300,000.

Meanwhile, companies operating without the required registration could face a P300,000 fine for the first offense and blacklisting for the second offense.

Shipping lines would also be required to confirm that Philippine-based deconsolidators hold valid registration and have acknowledged the shipments before releasing empty containers to overseas consolidators.

The BoC is accepting position papers until Nov. 13, with an online public consultation scheduled for the same day. — Justine Irish D. Tabile