Warehousing bond obligations require importers to secure duties, compliance, interest, and penalties for warehoused goods. Warehousing bond requirements oblige an importer who presents a bill of entry for warehousing and is assessed to duty to execute a bond equal to thrice the assessed duty. The bond secures compliance with the Act, rules and regulations, payment of duties and interest, and payment of penalties and fines for contraventions. The customs officer may permit a general bond for warehousing imports within a specified period, subject to approval of the amount, and the importer must furnish prescribed security.