Relaxation of bond requirement allows undertakings in lieu of bonds for eligible traders, subject to conditions and replacement by formal bonds. Temporary measure permits specified importers and exporters to submit an undertaking in lieu of a prescribed bond to expedite customs clearance during the lockdown, subject to conditions: the undertaking must mirror the bond's content, be signed on the IEC holder's letterhead and submitted from the IEC holder's registered email or authorised broker, commit to submitting the formal notarised bond by the replacement deadline, and does not replace any mandated security; customs formations must record all relaxations and may allow movements or changes of ownership in warehoused goods only to manufacturers/actual users, Authorized Economic Operators, or status holders.
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.
Relaxation of bond requirement allows undertakings in lieu of bonds for eligible traders, subject to conditions and replacement by formal bonds.
Temporary measure permits specified importers and exporters to submit an undertaking in lieu of a prescribed bond to expedite customs clearance during the lockdown, subject to conditions: the undertaking must mirror the bond's content, be signed on the IEC holder's letterhead and submitted from the IEC holder's registered email or authorised broker, commit to submitting the formal notarised bond by the replacement deadline, and does not replace any mandated security; customs formations must record all relaxations and may allow movements or changes of ownership in warehoused goods only to manufacturers/actual users, Authorized Economic Operators, or status holders.
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