Insurance requirement for cargo service providers set to average storage value, subject to Commissioner specification and existing importer/exporter cover. Customs Cargo Service Providers must procure insurance equal to the average value of goods likely to be stored in the Customs area for a ten day period based on projected capacity, with the Commissioner of Customs authorized to specify the amount after considering goods already insured by importers or exporters.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Insurance requirement for cargo service providers set to average storage value, subject to Commissioner specification and existing importer/exporter cover.
Customs Cargo Service Providers must procure insurance equal to the average value of goods likely to be stored in the Customs area for a ten day period based on projected capacity, with the Commissioner of Customs authorized to specify the amount after considering goods already insured by importers or exporters.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.