Partial discharge of bonds enabled, allowing proportional crediting of bonds and bank guarantees as export obligations are fulfilled. Partial discharge of bonds and corresponding bank guarantees for imported gold will be effected by proportionate online crediting in ICES 1.5 as export obligations are met, based on prescribed documentation submitted to jurisdictional customs authorities; the existing standard operating procedure and timelines for bond discharge apply mutatis mutandis, and a system advisory will provide details of the new functionality.
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Provisions expressly mentioned in the judgment/order text.
Partial discharge of bonds enabled, allowing proportional crediting of bonds and bank guarantees as export obligations are fulfilled.
Partial discharge of bonds and corresponding bank guarantees for imported gold will be effected by proportionate online crediting in ICES 1.5 as export obligations are met, based on prescribed documentation submitted to jurisdictional customs authorities; the existing standard operating procedure and timelines for bond discharge apply mutatis mutandis, and a system advisory will provide details of the new functionality.
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