Customs Broker Surety Bond requires sureties to cover losses from broker misfeasance or negligence during authorization under customs rules. A surety bond is required for authorization to act as a customs broker under section 146 of the Customs Act, 1962, binding principal and surety to the President of India for payment of sums due by reason of the broker's misfeasance or negligence; it obliges faithful and incorrupt conduct under the Customs Brokers Licensing Regulations and requires the principal and surety to make good any unpaid sums, with prescribed form, signatures, witness attestation and execution before the customs official.