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of <h1>Customs Waives Bank Guarantee for High-Volume Carriers in Container Transhipment; Exemptions Possible for Others with Approval.</h1> The circular from the Central Board of Excise & Customs, dated November 24, 2005, announces a waiver of the bank guarantee requirement for transhipment of containerized cargo. This waiver applies to carriers handling over 1000 TEUs of import containers annually, including shipping lines, ICDs, CFSs, and other carriers, regardless of transport mode. Carriers with a transhipment volume below 1000 TEUs but with a good track record may request an exemption from the bank guarantee, subject to approval by the jurisdictional Customs Commissioners. The circular modifies previous instructions from 2001 and 2004 and urges immediate dissemination to the trade community.
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