Continuity bond obligation secures provisional import clearance pending documents and payment of duty differences. A continuity bond secures provisional clearance by obliging the importer to produce required documents within a specified period, to pay the difference between finally and provisionally assessed duties, and to satisfy any penalty adjudged in lieu of confiscation; it may be secured by cash deposit or endorsed securities and authorises recovery and adjustment of the security toward liabilities under the Customs Act.
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Provisions expressly mentioned in the judgment/order text.
Continuity bond obligation secures provisional import clearance pending documents and payment of duty differences.
A continuity bond secures provisional clearance by obliging the importer to produce required documents within a specified period, to pay the difference between finally and provisionally assessed duties, and to satisfy any penalty adjudged in lieu of confiscation; it may be secured by cash deposit or endorsed securities and authorises recovery and adjustment of the security toward liabilities under the Customs Act.
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