Warehousing bond requires importer security to ensure compliance, payment of duties, interest and penalties on warehoused goods. Warehousing bond requires the importer to execute security ensuring compliance with the Act and rules, payment of duties and interest, and satisfaction of penalties for warehoused goods; a general bond may be approved by the Assistant or Deputy Commissioner of Customs, prescribed security is additionally required, and bonds remain effective on transfer while transferees must execute bonds and furnish security.