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The purpose of the Notice of Seizure and Intent to Forfeit is to provide notice to the public of the seizure and impending administrative forfeiture and allow any interested party who did not receive a Notice of Seizure to file a claim with CBP.
The first step towards forfeiture is issuing a notice to the shareholder. The company must provide a written notice to the shareholder stating the amount due, including any interest, and give them a specific date by which they must make the payment. This date must be at least 14 days from the date of the notice.
Forfeiture is a legal mechanism whereby the government can take property that is used or acquired illegally, especially property associated with illicit drug trafficking.
The seizure of a bank account, for example, takes place when you lose the right to use the money in your account. Forfeiture occurs when your rights to the seized property are permanently lost through a court order or judgment. Forfeiture occurs after seizure, and seizure does not always end in forfeiture.
What Does This Notice Mean? U.S. Customs may seize goods if they are contrary to law. If your merchandise is seized, you have options. In your seizure notice, you are provided a Fines, Penalties, and Forfeitures (FP&F) case number and assigned a paralegal.