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of <h1>Customs Broker Surety Bond Enforces Compliance with Customs Act, 1962 & Customs Brokers Licensing Regulations, 2018</h1> This surety bond, valued at 5,00,000, involves two parties, referred to as A and B, who are bound to the President of India. Party A is authorized as a Customs Broker under the Customs Act, 1962, and Party B agrees to the bond's terms as per the regulations. The bond ensures that Party A conducts themselves faithfully and adheres to the Customs Brokers Licensing Regulations, 2018. Should Party A fail to pay any due sums to the government due to misfeasance or negligence, the bond remains enforceable. Otherwise, it becomes void. The bond is executed in the presence of witnesses and the Customs authority.
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