(a) Waiver by the Commissioner of Customs. When a Customs requirement supported by a bond is waived by the Commissioner of Customs, the waiver may be:
(1) Unconditional, in which case the importer is relieved from the payment of liquidated damages;
(2) Conditioned upon prior settlement of the bond obligation by payment of liquidated damages; or
(3) Conditioned upon such other terms and conditions as the Commissioner may deem sufficient.
(b) Waiver by the port director. When a Customs requirement supported by a bond is waived by the port director pursuant to the authority conferred by these regulations, the waiver shall be unconditional.