Customs broker surety bond secures government recovery for losses arising from broker misfeasance or negligence during authorization. Form E prescribes a surety bond as a licensing condition under the Customs Brokers Licensing Regulations, 2013, whereby a broker and a surety bind themselves in favour of the President of India to secure payment to the Government for sums due caused by the broker's misfeasance or negligence while authorised; the bond requires signatures, witnesses, and execution before the Principal Commissioner or Commissioner of Customs.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Customs broker surety bond secures government recovery for losses arising from broker misfeasance or negligence during authorization.
Form E prescribes a surety bond as a licensing condition under the Customs Brokers Licensing Regulations, 2013, whereby a broker and a surety bind themselves in favour of the President of India to secure payment to the Government for sums due caused by the broker's misfeasance or negligence while authorised; the bond requires signatures, witnesses, and execution before the Principal Commissioner or Commissioner of Customs.
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