Disposal of unclaimed export cargo: CFS to initiate auction, valuers determine reserve price; sale proceeds shared. CFSs must identify unclaimed export goods not under seizure or hold, submit lists for no-hold confirmation, and dispose of such goods by Public Auction/E-auction/Tender. Custodians shall value goods through approved valuers, with a panel of three valuers to resolve doubts, and the valuers' assessed value will form the reserve price. Sale proceeds are to be shared between Custodians and Customs.
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Provisions expressly mentioned in the judgment/order text.
Disposal of unclaimed export cargo: CFS to initiate auction, valuers determine reserve price; sale proceeds shared.
CFSs must identify unclaimed export goods not under seizure or hold, submit lists for no-hold confirmation, and dispose of such goods by Public Auction/E-auction/Tender. Custodians shall value goods through approved valuers, with a panel of three valuers to resolve doubts, and the valuers' assessed value will form the reserve price. Sale proceeds are to be shared between Custodians and Customs.
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