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<h1>Customs Act Section 143: Import/Export Allowed on Bond Execution if Prerequisites Unmet; Conditions Must Be Met Timely.</h1> Section 143 of the Customs Act, 1962, empowers the Assistant or Deputy Commissioner of Customs to permit the import or export of goods on the execution of a bond if certain prerequisites cannot be fulfilled before the transaction. The bond must include a surety or security and adhere to conditions specified by the customs authority. If the conditions are met within the specified timeframe, the bond is canceled without penalty. If not, the customs authority may take legal action based on the bond, in addition to any other actions permitted under the law.