ISF President Jonathan Conrad discusses ISF’s approach to remote work through accountability, transparency and trust. Take a moment to listen to Jonathan explain the three components of how ISF successfully managed a remote work environment.
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Being charged with a crime affects your present and future, the outcome of your case is of paramount importance ! Your defense in court can mean the difference between a bright future or one marred by the penalties that come with a guilty verdict.
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What is an intermediate sanction mechanism?
An intermediary sanction facility is an alternative treatment in custody for medium to high risk offenders who are at risk of having their probation or probation revoked. Lawmakers authorized the establishment of Interim Sanctions Centers in Texas to reduce prison overcrowding. These short-term treatment facilities are designed to help offenders address the underlying reasons for committing the offense and provide an alternative to prison when a probation officer or probation officer is at risk of revocation.
Parole in Texas: Some offenders may be placed on parole, either by plea bargain or by recommendation of a judge or jury, instead of going to jail. For more information on parole and deferred judgment in Texas, click here.
While rents can be consistently higher, caps can vary by sub-sector.
Tenants in these locations are typically long-term, many with ten-year leases. As such, they often command higher rents per square foot than storage and distribution centers because tenants derive additional value from the storage facilities and the building itself. Capitalization rates for these types of properties depend on the type of lessee’s credit profile, the length of the lease, and the intrinsic value of the property. A well-located property leased to a national lessee on a ten-year long-term lease may be more easily marketed with a cap in the low-to-mid range of six percent. For tenants without credit and personal credit, the top rates are 50 to 75 basis points higher, all other things being equal. For properties without credit tenants, the maximum rate depends on the rental conditions, the property quality, the location, the size of the outdoor storage area and the ability to obtain substitute rents at or above the current rent level.
In combination with high rents, the impact of transport and logistics on the real estate sector contributes to low vacancy rates in the industrial market in general. The national vacancy rate for traditional industrial buildings is around 5 percent in major markets, while ISFs have lower availability, with a national vacancy average of 2.9 percent, according to CoStar.
ISF Submission Requirements: Best Practices
Now that Customs is in enforcement mode with real penalties for real money, we recommend the following best practices for your ISF program:
- Do not wait until the last minute: the ISF must be presented at least 24 hours before the boat departure. Submit the ISF as soon as possible. Make sure you provide the declarant with the information at least 72 hours before departure. This leaves time for holidays and weekends.
- Use a template: Save time and reduce the risk of errors by using a template. If you don’t have one, use our ISF template to import security files.
- Hold your suppliers accountable: Incorporate language into your supplier manuals, purchase orders, contracts, letters of credit, etc. with your expectations of ISF to hold your suppliers accountable for providing ISF data in a timely manner. If you are penalized for a late ISF, make sure you have a clause requiring the provider to pay if they are at fault.
- Use a continuous guarantee: A continuous customs entry guarantee covers both ISF and customs entry. If you don’t have a continuous bond, you will need a separate ISF bond for each submission. If the ISF defaults, the guarantee company will likely require $5,000 in security to secure the bond. Need a continuous binding? Contact us.
- Don’t be afraid to change your ISF file: update the ISF if you need to change information. Don’t sacrifice a timely ISF by deleting it and filling it late. ISFs can be updated at any time until cargo arrives in the US
- Get a Bill of Lading (B/L) Match – Make sure you get a Bill of Lading Match at least 24 hours before cargo receive arrival. If you receive a message stating “AMS Bill Not on File,” do not resubmit the ISF to attempt to force a reconciliation. Double check the bill of lading number to ensure it is correct and is the lowest invoice number recorded in the Automated Manifest System (AMS). If so, the reconciliation occurs as soon as the carrier submits the manifest. If the ship sets sail and you still do not have a match a few days later, you should contact your supplier to verify the information on the bill of lading.
- Monitor your monthly ISF progress report – your ISF notifying party receives these reports through their Automated Trading Environment (ACE) portal and should forward them to you. Reports indicate the number and type of errors encountered, as well as the percentage of time your ISF has.