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If you handle in-bond cargo, it's important to know the updated in-bond process and CBP's enforcement of the same. Enforcement of ACE reporting for in-bond exports, arrivals and diversions commenced on July 29, 2019.
The Carmack Amendment specifies duties for shippers and carriers so each is aware of their rights and liabilities when an issue regarding cargo damage or cargo loss arises. The Carmack Amendment is federal law which preempts all state and common law with regards to remedies relating to cargo loss or damage in an interstate shipment.
There is a misconception that Directors & Officers Insurance is only needed for companies that are publicly traded. However, private companies should not underestimate this loss exposure.
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