What is meant by bonding of goods and what exactly happens when goods are sent under customs bond to an Inland destination?
A. Bonding of goods refers to sending a shipment to an inland destination for customs clearance. Generally goods are supposed to be cleared at the first port of entry (poe) but if the customer resides at some other city, he may want his goods to be cleared there rather at the first port. In such a case, the goods are sent under customs bond (after being duly sealed). A bank guarantee and a personal bond have to be filed with the customs at the arrival port and goods have to be insured for transit. Upon arrival at the inland destination a “Landing Remark Certificate” has to obtained and sent to us. On production of the LRC to the customs at the port of entry, the bank guarantee can be cancelled and returned to you.
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