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of <h1>New Regulation Simplifies Container Transshipment: Notional Bond Values Replace Invoices, Reducing Costs for Carriers Under 1995 Rules.</h1> The circular addresses the transshipment of containers from gateway ports to Inland Container Depots (ICDs) and Container Freight Stations (CFSs) under the 'Goods Imported (Condition of Transshipment) Regulations, 1995.' It mandates transporters to execute a continuity bond for the safe carriage of goods, with forfeiture applicable if proof of delivery is not provided. Following trade representations, a decision was made to use notional values for bonds instead of requiring invoices. Carriers can execute mother bonds with 25% security, debited at origin and credited upon proof of delivery. Bank guarantees are released per trip upon confirmation of safe landing, reducing financial burden on carriers.
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