Bond condition for transit goods: proof of delivery at destination voids bond, failure triggers duty, penalty, and forfeiture. Regulation 9 conditions the bond under Regulation 5: if the person in charge or consignor proves within the bond stipulated time (or any permitted ... Summary
Bond condition for transit goods: proof of delivery at destination voids bond, failure triggers duty, penalty, and forfeiture.
Regulation 9 conditions the bond under Regulation 5: if the person in charge or consignor proves within the bond stipulated time (or any permitted extension) that the goods were produced before the proper officer at destination, the bond is void; otherwise the bond executor is liable to pay export duty, suffer penalties under the Customs Act, the Imports and Exports (Control) Act and the Foreign Exchange Regulation Act, and forfeit the bond amount.
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