Solvency certificate requirement: bank solvency must match maximum duty exposure for private warehouse licensing, with specified exemptions. Applicants for private bonded warehouse licences must furnish a solvency certificate from a scheduled bank equal to the maximum customs duty exposure on goods stored; applicants must indicate that maximum duty when applying, and Principal Commissioners/Commissioners of Customs will require a solvency certificate matching that amount. Exemptions apply to Central/State/UT administrations and undertakings, EOU/EHTP/STPI units under Foreign Trade Policy rules, and AEO/ACP holders governed by their circulars.
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Solvency certificate requirement: bank solvency must match maximum duty exposure for private warehouse licensing, with specified exemptions.
Applicants for private bonded warehouse licences must furnish a solvency certificate from a scheduled bank equal to the maximum customs duty exposure on goods stored; applicants must indicate that maximum duty when applying, and Principal Commissioners/Commissioners of Customs will require a solvency certificate matching that amount. Exemptions apply to Central/State/UT administrations and undertakings, EOU/EHTP/STPI units under Foreign Trade Policy rules, and AEO/ACP holders governed by their circulars.
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