In relation to processing, maintenance and custody of Bank Guarantees, executed and accepted for different purposes ( Assessment, Registration of Licenses etc. )-Reg. - Customs - Public Notice No. 04 / 2024

Ministry of Finance Department of Revenue Office of the Commissioner of Customs Custom House, New Harbour Estate 628 004 / Thoothukudi 628004. Tel: 0461 2352655, 2352633 / Fax 0461 2352019 DATED: 06.05.2024 Public Notice No. 04 / 2024 Sub : In relation to processing, maintenance and custody of Bank Guarantees, executed and accepted for different purposes ( Assessment, Registration of Licenses etc. )-Reg. To facilitate the trade and ensure proper process and custody of Bank Guarantees (BGs) obtained by any section or administrative unit of this Commissionerate (including ICD) or by FAG of any other Commissionerates, it has been decided to create Centralized Bank Guarantee Cell (BG Cell) at Room No 13, 1st Floor, Old Building, Customs House Tuticorin. The overall supervision of the centralized BG cell will be under the control of the Deputy/Assistant Commissioner (Bond), Customs House Tuticorin. In this regard following procedures shall be followed for accepting, procuring and keeping custody of BGs. 2. All Sections/Groups/administrative units dealing with BGs for different purposes of customs related works, are, hereby, directed to process and maintain the BGs in following manner:- i. Administrative unit which accepts BG, should ensure Auto renewal clause in the BG as per RBI Master Circular No. RBI/2013-14/66 Dated 01.07.2013. ii. Administrative unit which accepts BG, should ensure IEC code of the executor/importer/CHA in the BG. iii. BG accepted for any purpose by any administrative unit, should be first entered in the EDI system by the concern administrative unit and must be sent to centralized BG cell for custody and will remain in custody till release or encasement of the same. iv. Centralized BG cell will return BG to respective administrative unit on written demand, stating reason for return, made by the respective section/authority. v. Centralized BG cell will not release/encash any BG directly to BG executor/importer/CHA. vi. Administrative unit accepting BG, will maintain a record of receipt/dispatch/disposal of the BG and will take receipt number from BG Cell on handing over the BG to the BG Cell. 3. In case, requirement of BG is decided by FAG of the Commissionerate, in such cases, the officer, giving out of charge, will ensure that BG of the amount as decided by the FAG, with other requirements as discussed above, including auto renewal clause, is verified properly and same is received by the centralized BG cell, before giving out of charge. 4. It is also directed that all the administrative unit should enlist cases of Bank Guarantees presently under their custody at earliest and ensure that all the Bank Guarantees are forwarded to the Centralized BG cell within 30 days on publication of this public notice. 5. All importers/Exporters/CHAs are requested to follow the procedures as prescribed above scrupulously. 6. In case of any difficulty, it should be brought to the notice of the Additional/Joint Commissioner of Customs, in-charge of the section. ( VIKAS NAIR ) COMMISSIONER