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(NAR) VOL. 9 NO. 2 / APRIL - JUNE 1998
[ BOC MEMORANDUM ORDER NO. 33-96A, April 02, 1998 ]
SUPPLEMENT TO CMO 33-96
Be informed that on April 1998, CMO 33-96 with subject “Procedures to be followed in the Issuance and Utilization of Certificates of Balance (COB)” shall come into effect at the Port of Cebu. The following features are hereby highlighted for the guidance of all concerned:
1. In consonance with CMO 21-96, the advance duties paid upon L/C opening must be applied in full for the payment of duties and taxes even if the arrival constitutes only a partial shipment. For succeeding shipments, a Certificate of Balance must be presented to indicate the amount being applied and the remaining balance in the advance deposit per IED.
2. The entries must be properly marked with the words “SUBJECT TO ISSUANCE OF COB” by the importer/broker to indicate that the advance deposit in the Import Entry Declaration (IED) shall still have a balance after application of the duties and taxes payable on the shipment at hand.
3. The procedures for the issuance and verification as to the authenticity of the COB must be done utilizing ACOBS following the guidelines prescribed in CMO 33-96.
4. Whenever in CMO 33-96 reference is made to AMPP clerks and AMPP System, it shall be interpreted to mean, the equivalent Collection Division clerk in the port and ACOS respectively. For the first partial application, the entry documents need not be forwarded to the Collection Division clerk since the computer will automatically match the payment with the assessed amount.
5. Whenever in CMO 33-96 reference is made to the PVS clerk and Payment Verification System, it shall be interpreted to mean, the equivalent Collection Division clerk in the port and Non-Standard Matching sub-module of ACOS respectively. The Collection Division Clerk in this respect shall utilize the sub-module to force match the payment details with the assessed amount taking into consideration the Certificate of Balance issued and the machine-validated amount in the IEIRD per Section 4.6 of CMO 33-96.
6. It shall be the responsibility of the Collection Division clerk to forward the entries marked as in Section 2 above, to the Chief of the Collection Division for the issuance of COB utilizing ACOBS.
7. Certificates of Balance that are being attached to the IEIRD must stamped with the word “USED” on the face of COB.
Adopted: 02 April 1998
(SGD.) GUILLERMO L. PARAYNO, JR.
Commissioner
1. In consonance with CMO 21-96, the advance duties paid upon L/C opening must be applied in full for the payment of duties and taxes even if the arrival constitutes only a partial shipment. For succeeding shipments, a Certificate of Balance must be presented to indicate the amount being applied and the remaining balance in the advance deposit per IED.
2. The entries must be properly marked with the words “SUBJECT TO ISSUANCE OF COB” by the importer/broker to indicate that the advance deposit in the Import Entry Declaration (IED) shall still have a balance after application of the duties and taxes payable on the shipment at hand.
3. The procedures for the issuance and verification as to the authenticity of the COB must be done utilizing ACOBS following the guidelines prescribed in CMO 33-96.
4. Whenever in CMO 33-96 reference is made to AMPP clerks and AMPP System, it shall be interpreted to mean, the equivalent Collection Division clerk in the port and ACOS respectively. For the first partial application, the entry documents need not be forwarded to the Collection Division clerk since the computer will automatically match the payment with the assessed amount.
5. Whenever in CMO 33-96 reference is made to the PVS clerk and Payment Verification System, it shall be interpreted to mean, the equivalent Collection Division clerk in the port and Non-Standard Matching sub-module of ACOS respectively. The Collection Division Clerk in this respect shall utilize the sub-module to force match the payment details with the assessed amount taking into consideration the Certificate of Balance issued and the machine-validated amount in the IEIRD per Section 4.6 of CMO 33-96.
6. It shall be the responsibility of the Collection Division clerk to forward the entries marked as in Section 2 above, to the Chief of the Collection Division for the issuance of COB utilizing ACOBS.
7. Certificates of Balance that are being attached to the IEIRD must stamped with the word “USED” on the face of COB.
Adopted: 02 April 1998
(SGD.) GUILLERMO L. PARAYNO, JR.
Commissioner