Section 172.1 - Notice of liquidated damages or penalty incurred and right to petition for relief(a)Notice of liquidated damages or penalty incurred. When there is a failure to meet the conditions of any bond posted with Customs or when a violation occurs which results in assessment of a penalty which is secured by a Customs bond, the principal will be notified in writing of any liability for liquidated damages or penalty incurred and a demand will be made for payment. The sureties on such bond will also be notified in writing of any such liability at the same time.(b)Notice of right to petition for relief. The notice will inform the principal that application may be made for relief from payment of liquidated damages or penalty.