Execution of bond and security requirement ensures licence issuance upon furnishing prescribed guarantee and acceptable security instruments. Before granting a customs broker licence, the applicant must execute a bond in Form D and, if specified, a surety bond in Form E, and furnish a bank guarantee, postal security, National Saving Certificate, or fixed deposit receipt issued by a nationalised bank in the name of the Principal Commissioner or Commissioner of Customs as security for an amount of five lakhs rupees to carry out customs broker business; where postal security, National Saving Certificate, or fixed deposit receipt is furnished, interest on the instrument accrues to the customs broker.
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.
Execution of bond and security requirement ensures licence issuance upon furnishing prescribed guarantee and acceptable security instruments.
Before granting a customs broker licence, the applicant must execute a bond in Form D and, if specified, a surety bond in Form E, and furnish a bank guarantee, postal security, National Saving Certificate, or fixed deposit receipt issued by a nationalised bank in the name of the Principal Commissioner or Commissioner of Customs as security for an amount of five lakhs rupees to carry out customs broker business; where postal security, National Saving Certificate, or fixed deposit receipt is furnished, interest on the instrument accrues to the customs broker.
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