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Execution of bond and furnishing of security
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.... shall require the applicant to enter into a bond in Form D [See Customs Series Form No. 50 in Part 5] and, if necessary, a surety bond in Form E [See Customs Series Form No. 51 in Part 5] for due observance of these regulations and shall also require him to furnish a bank guarantee, postal security or National Savings Certificate in the name of the ^1[Principal Commissioner of Customs or Commissi....