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of <h1>Customs Temporarily Relaxes Notarized Bond Requirement for Importers/Exporters Until April 30, 2020, per Section 143AA of Customs Act.</h1> Due to the COVID-19 lockdown, importers and exporters face challenges in obtaining notarized stamp papers for customs bonds. To facilitate trade, the requirement to submit such bonds is temporarily relaxed until April 30, 2020, under Section 143AA of the Customs Act, 1962. Instead, importers/exporters can submit an undertaking, which must be replaced with a proper bond by May 7, 2020. This applies to government entities, manufacturers, authorized economic operators, status holders, and those using warehouse facilities. Additional safeguards may apply to other importers. The customs department will monitor compliance with these temporary measures.
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