Courier Bond Executed CCSPs - Customs - PUBLIC NOTICE No. 11/2016

OFFICE OF THE CHIEF COMMISSIONER OF CUSTOMS C.R. BUILDING: QUEEN'S ROAD: BENGALURU - 560 001 C. No. 11/48/181/2016 CC cus BZ Dated: 10.10.2016 PUBLIC NOTICE No. 11/2016, Sub: Courier Bond Executed CCSPs - reg. Attention to all the CCSPs is invited to the C.B.E.C Circular No. 42/2016-Customs dated 31.08.2016 on the above subject matter. 2. In this connection Board's Circular No. 32/2013-Customs dated 16.08.2016 may also be referred, wherein with regard to Regulation of the Handling of Cargo in Customs Area Regulations,2009 (hereinafter referred to as HCCAR), it was laid down that the amount of insurance to be provided by Customs Cargo Service provider (CCSPs) should be equal to the average value of the goods likely to be stored in the Customs area for a period of 30 days (based on projected capacity) and for an amount as Commissioner of Customs may specify having regard to the goods that are already insured by the importers or exporters. 2. It has been represented to the Board that for calculation of insurance amount and Bond amount under HCCAR, dwell time for clearance of imported goods and transit time for export goods should be taken in to account, it has been brought to the notice of Board that CCSPs are being asked to give Bond and insurance for an amount equal to the average value of goods likely to be stored, in 30 days, in the Customs area based on the projected capacity. It is further informed that that the dwell time for imported goods is 10 days and transit time for export container is less than 24 hours. 3. The matter has been examined. Board is of view that for calculating average value of goods likely to be stored in Customs area, under Regulation 5(1)(iii) of HCCAR, average time taken for clearance of goods should be a relevant factor in deciding amount of insurance. As a measure of ease of doing business, it has been decided to partially modify the earlier Circular No. 32/2013-Customs dated 16.08.2013 with regard to Regulation 5(1)(iii) of HCCAR, to lay down that the amount of insurance to be provided by CCSPs should be equal to the average value of goods likely to be stored in the area of Customs for a period of 10 days (based on projected capacity) and for an amount as Commissioner of Customs may specify having regard to the goods that are already insured by the importers or exporters. Changes have also been carried out in HCCAR, 2009 vide Notification No. 115- Customs (N.T.) dated 26.08.2016 to reduce the value of bond being furnished respect of imported/export goods to the extent of 10days storage from the current 30 days. 4. The recent changes of ease of doing business be given wide popularity by issuing suitable public notices in commissionerates of this zone. 5. This issues with the approval Of Chief Commissioner. Yours faithfully, (BIPIN KUMAR UPADHYAY) JOINT COMMISSIONER (CCO)