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of <h1>Customs Temporarily Eases Bond Requirements for Importers/Exporters Amid COVID-19; Submit Undertaking Until April 30, 2020.</h1> The Customs authority issued a public notice to facilitate trade during the COVID-19 lockdown by temporarily relaxing the requirement for importers and exporters to submit notarized bonds under sections 18, 59, and 143 of the Customs Act, 1962. Instead, an undertaking can be submitted until April 30, 2020, with conditions such as signing by the IEC holder and a commitment to provide the proper bond by May 7, 2020. This applies to specific categories like government undertakings and authorized economic operators, with potential case-by-case consideration for others. Compliance must be ensured, and records maintained.
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