Continuity surety bond secures carrier and surety liability for proper transhipment and customs duty payment on demand. The continuity surety bond binds the authorised carrier and the surety, jointly and severally, to ensure consignments in the Arrival/Departure Manifest are safely transhipped to the nominated destination and produced to the proper officer within one month or otherwise accounted for, and to furnish Arrival Manifest (Form VIII) at destination; it also requires payment on demand of customs duties payable in respect of transhipped goods and authorises recovery under sub section (1) of section 142 of the Customs Act, 1962, with a forbearance clause preserving Government remedies.
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.
Continuity surety bond secures carrier and surety liability for proper transhipment and customs duty payment on demand.
The continuity surety bond binds the authorised carrier and the surety, jointly and severally, to ensure consignments in the Arrival/Departure Manifest are safely transhipped to the nominated destination and produced to the proper officer within one month or otherwise accounted for, and to furnish Arrival Manifest (Form VIII) at destination; it also requires payment on demand of customs duties payable in respect of transhipped goods and authorises recovery under sub section (1) of section 142 of the Customs Act, 1962, with a forbearance clause preserving Government remedies.
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