What is the Periodical Monthly (PM) Statement and why an extra charge?

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.