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of <h1>15% Bank Guarantee Exemption for Government Cargo Transhipment; Amendments Required for ICD/CFS Custodians.</h1> The circular addresses the requirement of a 15% bank guarantee for transhipment of cargo from gateway ports to feeder ports, ICDs, and CFSs. It exempts Central and State Government undertakings from this requirement. Custodians of ICDs/CFSs must amend their existing bank guarantees with Customs to ensure the safety and security of transhipped cargo, notifying the relevant Customs Commissioner. They are not required to execute separate guarantees for transhipment. Other carriers must adhere to the existing 15% bank guarantee requirement. The circular instructs the dissemination of these changes and invites feedback on implementation difficulties.
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