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Custodian appointment requires bonds and bank guarantees to secure duties and cover transshipment liability for cargo movements. The custodian is authorised to handle unloading of imports and loading of exports at the notified Customs area until goods are cleared, exported, warehoused or transshipped, subject to conditions: execute/renew a bond per the Handling of Cargo in Customs Area Regulations, 2009 with a Bank Guarantee at 10% of bond value; provide a separate bond and 10% Bank Guarantee covering duty incentives for export/transshipment movements and bear liability for duty and penalties for goods lost during transshipment; earlier notification conditions apply mutatis mutandis.
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Custodian appointment requires bonds and bank guarantees to secure duties and cover transshipment liability for cargo movements.
The custodian is authorised to handle unloading of imports and loading of exports at the notified Customs area until goods are cleared, exported, warehoused or transshipped, subject to conditions: execute/renew a bond per the Handling of Cargo in Customs Area Regulations, 2009 with a Bank Guarantee at 10% of bond value; provide a separate bond and 10% Bank Guarantee covering duty incentives for export/transshipment movements and bear liability for duty and penalties for goods lost during transshipment; earlier notification conditions apply mutatis mutandis.
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