Relaxation of bond requirements allows undertakings in lieu of bonds to expedite customs clearance during lockdown. Temporary measures allow acceptance of an undertaking in lieu of bond to expedite customs clearance during the lockdown, available up to 30.04.2020, subject to submission of a proper notarised bond by 07.05.2020. The undertaking must replicate prescribed bond content, be signed by the IEC holder and submitted from the registered IEC email or authorised broker; it does not substitute mandated security, which must be furnished as directed. The facility applies to government entities, manufacturer/actual user importers, Authorized Economic Operators, status holders and warehouse users, while other importers may receive relaxations on a case-by-case basis with safeguards. Field formations must maintain records of relaxations.
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 requirements allows undertakings in lieu of bonds to expedite customs clearance during lockdown.
Temporary measures allow acceptance of an undertaking in lieu of bond to expedite customs clearance during the lockdown, available up to 30.04.2020, subject to submission of a proper notarised bond by 07.05.2020. The undertaking must replicate prescribed bond content, be signed by the IEC holder and submitted from the registered IEC email or authorised broker; it does not substitute mandated security, which must be furnished as directed. The facility applies to government entities, manufacturer/actual user importers, Authorized Economic Operators, status holders and warehouse users, while other importers may receive relaxations on a case-by-case basis with safeguards. Field formations must maintain records of relaxations.
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