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B-17 Bond Bond Amount Execution of Bond Waiver of Bank Guarantee Acceptance of the Bond Bond Register

Central Excise - 100% Export Oriented Unit Scheme - 100% EOU Scheme - 09 - B-17 Bond A single Bond referred to as Mother Bond in the Form B-17 (Gen. Surety /Security) is required to be executed for duty free import, domestic procurement, provisional assessment, for export without payment of duty, for due accountal /disposal of dutiable goods. Format of the bond has been prescribed vide notification No. 6/98-CE (N.T), dated 2.3.1998 and the bond covers following activities:- (a) Transshipment of .....

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for which a separate bond is required to be executed. The units are required to give either surety for the bond amount or furnish 5% of the bond amount as Bank Guarantee or any other Govt. approved security. The solvency of surety may be certified by a Chartered Accountant or banker of the surety. A Limited Company is a distinct legal entity and the members of the Co., including its Directors are distinct from the Company, the directors of EOUs, are allowed to stand as surety in their personal .....

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the duty foregone, additional/revised bond is required to be executed. Execution of Bond The bond is required to be executed on non-judicial stamp paper by the Managing Director or the Director of the company who have been duly authorised for this purpose by a resolution of Board of Directors. Same procedure is followed for Company or person standing as surety provided they are solvent to the extent of Bond amount, otherwise Bank Guarantee @ 5% of bond amount is required to be given. In the case .....

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