Disposal of unclaimed cargo: custodians obtain reserve valuations from approved valuers; customs approve reserve and bids. For goods lying less than one year, custodians must obtain a reserve price fixed by a panel of government-approved valuers appointed by the custodian; Customs shall not engage in valuation but will approve both the reserve price and bids. If such goods remain unsold and become landed-more-than-one-year, custodians may sell them following the independent procedure for that category without reference to Customs, adjusting the count of prior auctions/tenders against the prescribed number of four.
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Provisions expressly mentioned in the judgment/order text.
Disposal of unclaimed cargo: custodians obtain reserve valuations from approved valuers; customs approve reserve and bids.
For goods lying less than one year, custodians must obtain a reserve price fixed by a panel of government-approved valuers appointed by the custodian; Customs shall not engage in valuation but will approve both the reserve price and bids. If such goods remain unsold and become landed-more-than-one-year, custodians may sell them following the independent procedure for that category without reference to Customs, adjusting the count of prior auctions/tenders against the prescribed number of four.
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