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of <h1>Customs reduces security requirements to 25% of bond value for cargo transshipment through gateway ports</h1> The customs circular clarifies security requirements for cargo transshipment operations through gateway ports. Following previous circular provisions regarding Mother Bond calculations and running bond arrangements, the authorities addressed industry concerns about security amounts required for transshipment of import/export cargo. The circular establishes that carriers must provide security equivalent to 25 percent of the bond value when transporting cargo through gateway ports. For carriers opting to furnish security separately for individual vessel trips rather than maintaining running bonds, the security amount shall be 25 percent of the average cargo value for that specific voyage. The directive requires customs departments to notify trade stakeholders and departmental officers through appropriate notices and standing orders, while requesting feedback on implementation challenges.
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