Customs bond relaxation: temporary acceptance of undertakings in lieu of bonds to expedite clearance while preserving security safeguards. Temporary relaxation under the Customs Act allows acceptance of an undertaking in lieu of a bond from eligible importers and exporters to expedite customs clearance; the undertaking must mirror the prescribed bond, be signed by the IEC holder and submitted from the registered IEC email, and must be replaced by a proper bond within the stipulated replacement period, with no substitution for required security and customs officers retaining discretion to require additional safeguards.
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.
Customs bond relaxation: temporary acceptance of undertakings in lieu of bonds to expedite clearance while preserving security safeguards.
Temporary relaxation under the Customs Act allows acceptance of an undertaking in lieu of a bond from eligible importers and exporters to expedite customs clearance; the undertaking must mirror the prescribed bond, be signed by the IEC holder and submitted from the registered IEC email, and must be replaced by a proper bond within the stipulated replacement period, with no substitution for required security and customs officers retaining discretion to require additional safeguards.
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