Export Units Can Now Use 5% Security Instead of Full Surety for B-17 Customs Bond Under New Rule

100% Export Oriented Units and Export Processing Zone units unable to provide prescribed surety for the single B-17 customs bond may execute the bond with security equal to 5% of the bond value. This security can be furnished through a bank guarantee, cash deposit, or other government-recognized securities. This modification addresses difficulties faced by capital-intensive units with foreign equity participation in arranging individual or corporate sureties. The earlier requirement for only surety bonds is amended to allow this alternative security arrangement, and the change is to be widely publicized through trade or public notices.

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