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Regarding Bank Guarantee for transhipment of cargo from gateway ports to
feeder ports/ ICDs/ CFSs
Circular No. 34 dated 13th June 2001
I am directed to invite your attention to
Board�s Circular No.34/ 2000-Cus. Dated 3/ 5/ 2000 as amended by Circular
No.47/ 2000-Cus. Dated the 19th May 2000 and No.56/ 2000-Cus. Dated
the 5th July 2000 regarding transhipment of cargo from gateway ports
to other ports and from gateway ports to ICD/ CFS respectively. In the said
Circulars, it has been provided that for such transhipment, a bond with security of
25% of bond value shall be taken from the carrier/ custodians. In this
connection, a number of references has been received from trade, Ministry of
Commerce and the Ministry of Surface Transport for reducing the amount of
security, as such security causes heavy financial burden on the carriers/
custodians.
2.
The matter has been examined by the Board. Having regard to the
suggestions made, recommendations of the Conference of Commissioners on
Tariffs and Allied matters held in November 2000 at Goa and as a measure of
trade facilitation, it has been decided to reduce the amount of security for
transhipment of cargo from the existing level of 25% of bond value to 15% of the
bond value. It may, be noted that, all the existing bond and securities
furnished by carriers/ custodians shall also be governed by this Circular. The
differential amount of security executed earlier (i.e. 25%) and the required
security under the instant Circular (i.e. 15%) may be returned to the carrier/
custodians. As an alternative, the old security may be discharged after a fresh
security @ 15% of bond value is taken from the carriers/ custodians.
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, in implementation of these instructions including
instances of non-accountal of cargo allowed to be transhipped where duties
are not being paid up and there are difficulties in recovery due to inadequacy
of security deposit may be brought immediately to the notice of the Board.
5. Kindly
acknowledge receipt of the Circular.
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