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of <h1>Advance Authorization Holders Must Verify Manufacturer Status for Reduced Bond; 15% for Verified, 100% Otherwise.</h1> Trade Notice No. 15/AM16 outlines the requirement for Advance Authorization and EPCG Authorization holders to execute a bond backed by a bank guarantee or cash security when sourcing indigenously. As per Customs Circular No. 58/2004-cus, amended by Circular No. 17/2009-cus, the bond requirement is reduced to 15% for manufacturer exporters. However, exporters claiming manufacturer status must independently verify their credentials with the authority. Those not covered under specific clauses must provide a 100% bank guarantee. The notice clarifies that merely holding a manufacturer exporter title does not automatically qualify for reduced security requirements.
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