Regulation 10 - Execution of bond and furnishing of security - Customs House Agents Licensing Regulations, 2004

10. Execution of bond and furnishing of security. - (1) Before granting a licence under regulation 9, the 1 [Principal Commissioner of Customs or Commissioner of Customs, as the case may be] 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 Commissioner of Customs, as the case may be] for an amount of [Rs. 75,000/-] for carrying out of business as a Customs House Agent. (2) If the applicant furnishes postal security or National Savings Certificate, the same shall be pledged in the name of the 1 [Principal Commissioner of Customs or Commissioner of Customs, as the case may be] and the applicant shall get the benefit of the interest accruing on it. ---------------- Notes:- 1. Substituted vide Not. 56/2014 - Dated 6-8-2014