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of <h1>Bond Agreement for Customs Brokers: 5 Lakh Security under Customs Brokers Licensing Regulations, 2018 for Compliance and Liability</h1> This document is a bond agreement between an unnamed party and the President of India, required under the Customs Brokers Licensing Regulations, 2018. The party, authorized as a Customs Broker under the Customs Act, 1962, deposits 5,00,000 as security for compliance with regulations. The bond stipulates that the broker and their employees must act faithfully, with the sum serving as a guarantee against any negligence or misfeasance. The bond remains valid for twelve months after the broker ceases operations, allowing the government to recover any unpaid duties or charges discovered within that period.
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