Authorised carrier bond secures compliance with sea cargo manifest and transhipment obligations through a prescribed security mechanism. Authorised carriers registered under the Sea Cargo Manifest and Transhipment Regulations, 2018 must execute Form XI as a bond in favour of the President ... Summary
Authorised carrier bond secures compliance with sea cargo manifest and transhipment obligations through a prescribed security mechanism.
Authorised carriers registered under the Sea Cargo Manifest and Transhipment Regulations, 2018 must execute Form XI as a bond in favour of the President of India. A security deposit of five lakh rupees secures faithful compliance by the carrier and its employees. Non-compliance permits the Government to demand the bond amount; upon payment, the bond obligations cease, while otherwise the bond continues in force. The form is executed before witnesses and accepted by the Principal Commissioner of Customs or Commissioner of Customs.
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