| Date: |
22-02-2002
|
| Notification No: |
Customs Circular No 13/2002
|
| Issuing Authority: |
Indian Customs
|
| Type: |
Circular
|
| File No: |
|
| Subject: |
Regarding appointment of custodians of EPZs/ ICDs/ CFSs
|
|
Regarding appointment of custodians of EPZs/ ICDs/ CFSs
Custom
Circular No. 13 dated 22nd February 2002
I am directed to refer to the Board�s
Circular No.128/95-Cus., dated 14th December, 1995 regarding
guidelines for appointment of custodians of EPZs/ICDs/CFSs. The said circular
prescribes that for proper discharge of duties, the custodians shall execute a
bond equal to the value of the goods likely to be stored in the premises for a
period of 30 days, supported by a bank guarantee or a government bond or cash
deposit equivalent to 10% of the value of the goods. A doubt has been raised as
to whether the Central Government as well as State Government Undertakings
appointed as custodians are required to furnish the bank guarantee or other form
of security prescribed in the said circular.
2. The matter has been
examined by the Board. It is clarified that all Central as well as State Public
Sector Undertakings (PSUs) appointed as custodians of EPZs/ ICDs/ CFSs, are
exempt from the requirement of bank guarantee or other form of security
prescribed under the said circular. The PSUs may be appointed as custodians on
execution of a bond equal to the value of the goods likely to be stored in the
premises for a period of 30 days.
3. These instructions may
be brought to the notice of all concerned by way of issuance of suitable Public
Notice/ Standing Orders.
4. Difficulties, if any,
faced in the implementation of above instructions may be brought to the notice
of the Board. Kindly acknowledge receipt.
|
|
|