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Public Notice in respect of Bond amount & Insurance amount to be provided by Customs Cargo Service Providers -reg. - Customs - 19/2016Extract OFFICE OF THE PRINCIPAL COMMISSIONER OF CUSTOMS CUSTOM HOUSE, NEAR AKASHWANI, NAVRANGPURA AHMEDABAD - 380009 F.No:-VIII/48-92/Cus/T/2016 Dated:-14.09.2016 Public Notice 19/2016 Subject: Public Notice in respect of Bond amount Insurance amount to be provided by Customs Cargo Service Providers -reg. All the Importers, Exporters and the Trade are hereby informed that Central Board of Excise Customs vide Circular No 42/201 6-CUs dated 31.08.2016 has clarified in respect of Board's Circular No.32/2013-CUs dt. 16.08.2013. 2. The Board has issued guidelines saying that 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 Customs area 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. 3. The relevant Circular No. 42/2016-Cus dated 31.08.2016 can be accessed at: http://www.cbec.gov.in/resources/htdocs-cbec/customs/cs-circulars/cs-circulars-2016/circ42-2016cs.pdf 4. Difficulty faced, if any, may be brought to the notice of the Department. [Ajay Jain] Principal Commissioner Customs, Ahmedabad
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