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of <h1>Customs Broker Surety Bond Form: Compliance with Customs Act, 1962 & Customs Brokers Licensing Regulations, 2013</h1> This document is a surety bond form used in customs proceedings, binding two parties to the President of India for a sum of 5,00,000. One party is authorized as a Customs Broker under the Customs Act, 1962, and the bond ensures compliance with the Customs Brokers Licensing Regulations, 2013. The bond remains valid unless the broker fails to act faithfully, leading to financial liability for any government dues unpaid due to their negligence. The form has been updated from an older version, which involved a sum of 50,000 and referenced Custom House Agents.
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