Waiver of bank guarantee for carriers handling high-volume import containers to speed transhipment across modes and terminals. The Board waives the bank guarantee requirement for transhipment of containerized import cargo by carriers handling more than 1000 TEUs in a financial year, across all modes and including shipping lines, ICDs and CFSs. Commissioners of Customs may grant discretionary waivers for lower-volume carriers with satisfactory track records. Circulars 78/2001-Cus and 52/2004-Cus are modified accordingly and trade is to be notified by Public Notice.
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Provisions expressly mentioned in the judgment/order text.
Waiver of bank guarantee for carriers handling high-volume import containers to speed transhipment across modes and terminals.
The Board waives the bank guarantee requirement for transhipment of containerized import cargo by carriers handling more than 1000 TEUs in a financial year, across all modes and including shipping lines, ICDs and CFSs. Commissioners of Customs may grant discretionary waivers for lower-volume carriers with satisfactory track records. Circulars 78/2001-Cus and 52/2004-Cus are modified accordingly and trade is to be notified by Public Notice.
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