Security bond for authorised carriers ensures immediate government demand liability on breach of Sea Cargo Manifest obligations. A Security Bond is required from authorised carriers under the Sea Cargo Manifest and Transhipment Regulations, 2018, executed in favour of the President of India to secure faithful compliance by the registrant and its employees. The bond binds the principal and their successors to immediate payment to the Government on demand upon breach; payment discharges the obligation. The form contemplates execution before witnesses and acceptance by the Principal Commissioner/Commissioner of Customs and notes amendments to the prescribed security amount by later notifications.
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.
Security bond for authorised carriers ensures immediate government demand liability on breach of Sea Cargo Manifest obligations.
A Security Bond is required from authorised carriers under the Sea Cargo Manifest and Transhipment Regulations, 2018, executed in favour of the President of India to secure faithful compliance by the registrant and its employees. The bond binds the principal and their successors to immediate payment to the Government on demand upon breach; payment discharges the obligation. The form contemplates execution before witnesses and acceptance by the Principal Commissioner/Commissioner of Customs and notes amendments to the prescribed security amount by later notifications.
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