Subject: Clarification on Insurance Amount and Bond Value for CCSPs and validity of Bond for AEO-Lo

|

GEN/3634/2024-CCSP-O/O COMMR-CUS-GEN-NHAVA SHEVA

.

172471158/2024

|

==> picture [193 x 147] intentionally omitted <==

----- Start of picture text -----<br> UAT Yes Bye (ATATA) eT rates<br>OFFICE OF THE COMMISSIONER OF CUSTOMS (GENERAL)<br>Car yor Gril Var Ware Ves,<br>Customs Cargo Service Provider (CCSP) Cell<br>WMATeesTes ew MAT Youd Aa,<br>Jawaharlal Nehru Custom House<br>U): VAT, A: TUT, Tal Fay Yoowoy,<br>PO: Sheva, Tal Uran, Navi Mumbai-400707<br>E-mail Id: ccsp.jnch@ gov.in<br>----- End of picture text -----<br>

==> picture [147 x 30] intentionally omitted <==

----- Start of picture text -----<br> Date: 24/1/22 of,<br>----- End of picture text -----<br>

Public Notice No 1043/2024

Subject: Clarification on Insurance Amount and Bond Value for CCSPs and validity of Bond for AEO-LO-Reg...

2K ok 2k OK OK Attention of all stakeholders is invited to the Board's Circular No.22/2024-Customs dated 08/11/2024; relating to reduction in average dwell time for calculation of insurance amount under Regulation 5(1)(iii) of HCCAR, 2009 andNotification No. 75/2024-Customs (N.T.) dated 07.11.2024 regarding appointment of AEO-LO CCSPs as custodian, till such time their AEO authorisation is valid. 2. As ameasure of Ease of Doing Business, it has been decidedby the Board to partially modify the earlier Circular No. 22/2024-Customs dated 10/10/2024 with regard to Regulation 5(1)(iii) of HCCAR, to laydown that the amount of insurance to be provided by CCSPs should beequal to the average value of goods likely to be stored in the Customs area for a period of 5 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. Corresponding changes have also been carried out in Regulation 5(3) of HCCAR, 2009 vide Notification No. 75/2024-Customs (N.T.) dated 07.11.2024 to reduce the value of custodian bond being furnished in respect of imported/export goods to the extent of5 days storage from the current 10 days as stipulated in Notification No. 115/2016-Customs (N.T.) dated 26.08.2016.

oe

GEN/3634/2024-CCSP-O/O COMMR-CUS-GEN-NHAVA SHEVA

W247 js87/ 2029

3. 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 validand not suspended or revoked in terms of Regulation 12 of HCCAR, 2009. Accordingly, in terms of clarification provided in Circular No.32/2013-Customs dated 16.08.2013, the custodian bond executed by CCSPs i.e. ICDs/CFSs etc who are AEO-LO shall have the validity same as the validity of approval granted under Regulation 10 of HCCAR, 2009.

4. Further, Public Notice No. 91/2024 dated 24/10/2024 issued by JNCH stands withdrawn, as Board's Circular No.20/2024-Customs dated 10/10/2024 has already been withdrawn.

Difficulty, if any, faced in this regardmay be brought to the notice of this office.

Signed by Dhirendra Singh Sarbyal Date: 28-11-2024 18:37:40 (D. S. Garbyal

Commissioner of Customs, Nhava Sheva (Gen), JNCH,

Mumbai Customs-ll