Insurance requirement for CCSPs reduced to reflect average dwell time, easing bond obligations under HCCAR. The amount of insurance CCSPs must provide under Regulation 5(1)(iii) of the Handling of Cargo in Customs Area Regulations should be calculated by reference to the average value of goods likely to be stored in the Customs area for a period of 10 days based on projected capacity, with the Commissioner of Customs empowered to specify amounts having regard to 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 CCSPs reduced to reflect average dwell time, easing bond obligations under HCCAR.
The amount of insurance CCSPs must provide under Regulation 5(1)(iii) of the Handling of Cargo in Customs Area Regulations should be calculated by reference to the average value of goods likely to be stored in the Customs area for a period of 10 days based on projected capacity, with the Commissioner of Customs empowered to specify amounts having regard to goods already insured by importers or exporters.
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