Exemption from bank guarantee: AEO authorised cargo service providers gain extended approval terms under amended customs rules. The amendment exempts specified entities from the condition of furnishing bank guarantee or cash deposit under the proviso to regulation 5(3), applying to major ports, Central and State Governments and their undertakings, and Customs Cargo Service Providers authorised under the Authorised Economic Operator Programme. It further provides that approval under regulation 10(1) for such authorised Customs Cargo Service Providers may be extended for a further period of ten years at a time.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exemption from bank guarantee: AEO authorised cargo service providers gain extended approval terms under amended customs rules.
The amendment exempts specified entities from the condition of furnishing bank guarantee or cash deposit under the proviso to regulation 5(3), applying to major ports, Central and State Governments and their undertakings, and Customs Cargo Service Providers authorised under the Authorised Economic Operator Programme. It further provides that approval under regulation 10(1) for such authorised Customs Cargo Service Providers may be extended for a further period of ten years at a time.
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