Clarification on Insurance Amount and Bond Value for CCSPs and validity of Bond for AEO-LO

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..... Principal Chief Commissioners/Chief Commissioners of Customs/Customs (Preventive)/Customs Central Taxes, All Principal Commissioners/Commissioners of Customs/Customs (Preventive), All Principal Director Generals/Director Generals of Directorates under CBIC. Subject: Clarification on Insurance Amount and Bond Value for CCSPs and validity of Bond for AEO-LO-reg. Madam/Sir, Kind attention is invited .....

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..... uidelines prescribed vide the above referred circulars may be reviewed for reduction of cost incurred on insurance amount by Customs Cargo Service Providers (CCSPs) under Regulation 5(1)(iii) of HCCAR, 2009 by also bringing the attention of the Board regarding the reduction in average dwell time of imported goods and transit time for export goods. 3. The matter has been examined. In view of the pr .....

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..... 5 days storage from the current 10 days as stipulated in Notification No. 115/2016-Customs (N.T.) dated 26.08.2016. 4. The Notification No. 75/2024-Customs (N.T.) dated 07.11.2024 also amends Regulation 10 of HCCAR, 2009 providing that the approval for appointment of AEO-LO CCSPs as custodian has been made valid, till such time their AEO authorisation is valid and not suspended or revoked in terms .....

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