What is the Periodical Monthly (PM) Statement and why an extra charge?
This option to an importer allows the payment of duties, taxes and fees to be paid on a monthly 15 days after the end of the prior calendar month (rather than with each transaction). Financial benefit to the importer of interest-free loan and cash-flow advantage. Disadvantage to the surety of increased risks of liquidated damages and penalties. Thus, most sureties surcharge for this risk, which still allows financial gain for the importer.