Customs bond obligation secures transport operations by requiring compliance with customs and foreign trade laws or payment of duty and penalties. A bond form under the Transportation of Goods (Through Foreign Territory) Regulations, 2020 secures transport operations by obliging the bondholder to comply with the Customs Act and pay duties, interest, fines and penalties if obligations are not discharged, and to comply with foreign trade and foreign exchange laws; compliance voids the bond, while non compliance keeps it in force.
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 bond obligation secures transport operations by requiring compliance with customs and foreign trade laws or payment of duty and penalties.
A bond form under the Transportation of Goods (Through Foreign Territory) Regulations, 2020 secures transport operations by obliging the bondholder to comply with the Customs Act and pay duties, interest, fines and penalties if obligations are not discharged, and to comply with foreign trade and foreign exchange laws; compliance voids the bond, while non compliance keeps it in force.
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