ISF Liquidated Damages

ISF Liquidated Damages refer to financial penalties or fines that U.S. Customs and Border Protection (CBP) may impose on importers for violations or non-compliance with the Importer Security Filing (ISF) requirements. Liquidated damages are a specific form of monetary penalties set by law or regulation in advance and serve as a pre-determined amount that the violator must pay when a violation occurs. In the context of ISF, liquidated damages are assessed when an importer fails to adhere to the ISF regulations.