Execution of bond and security requirement: applicants must secure customs compliance and guarantee payment of recoverable duty. Regulation 11 requires applicants to execute a bond and furnish security in prescribed forms to secure compliance with the Customs Act; the bond obliges the applicant to pay any duty and applicable interest on goods cleared by an Authorised Courier where customs officers determine recovery from the importer or exporter is not possible, and the security is held in the name of the Principal Commissioner or Commissioner of Customs.