As part of the updates and topics held at the 2009 New Orleans Seminar; CBP provided valuable information on Importer Self Assessment (ISA). CBP defines ISA as: a voluntary trade facilitation partnership program for trade complaint companies to assume responsibility for managing their own compliance, in exchange for less CBP oversight.

For companies that are already enrolled in the C-TPAT program, this is a great opportunity to increase your company’s supply chain security and become more complaint with customs regulations.

Some of the basic requirements are: comply with all applicable Customs laws and regulations, maintain a system of business records that demonstrates the accuracy, establish, document and implement internal controls, perform periodic testing, and maintain results of the internal testing for three (3) years.

Some of the benefits consist of: Exemption from comprehensive audits, coverage available for multiple business units, and possible mitigating factors for penalties or liquidated damages.