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of <h1>Customs Updates Insurance and Bond Requirements for Cargo Service Providers, Reducing Costs and Enhancing Business Ease.</h1> The circular addresses revisions to the insurance amount and bond value requirements for Customs Cargo Service Providers (CCSPs) under the Handling of Cargo in Customs Areas Regulations, 2009. It modifies previous guidelines by reducing the insurance amount to cover goods stored for five days, instead of ten, reflecting reduced dwell times. Additionally, it updates the custodian bond value accordingly. The approval validity for Authorised Economic Operator-Logistics Operators (AEO-LO) as custodians is aligned with their AEO authorization status. These changes aim to reduce costs and enhance ease of doing business. Commissioners are advised to issue public notices regarding these updates.
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