Security for transhipment bonds reduced to ease carrier obligations and require refund or substitution of excess securities. The circular reduces the security component of bonds required from carriers/custodians for transhipment of cargo from gateway ports to feeder ports, ICDs and CFSs; existing bonds and securities will be governed by the reduced requirement, with excess earlier security refundable or dischargeable upon substitution of fresh security at the new reduced rate, and port/customs authorities directed to issue Public Notices and report implementation difficulties to the Board.
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Provisions expressly mentioned in the judgment/order text.
Security for transhipment bonds reduced to ease carrier obligations and require refund or substitution of excess securities.
The circular reduces the security component of bonds required from carriers/custodians for transhipment of cargo from gateway ports to feeder ports, ICDs and CFSs; existing bonds and securities will be governed by the reduced requirement, with excess earlier security refundable or dischargeable upon substitution of fresh security at the new reduced rate, and port/customs authorities directed to issue Public Notices and report implementation difficulties to the Board.
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