Section 10 in The Customs House Agents Licensing Regulations, 2004
10. Execution of bond and furnishing of security.
(1)Before granting a licence under regulation 9, the Commissioner of Customs shall require the applicant to enter into a bond in Form D and, if necessary, a surety bond in Form E for due observance of these regulations and shall also require him to furnish a bank guarantee, postal security or National Savings Certificate in the name of the Commissioner of Customs for an amount of Rs. 50,000/- for carrying out of business as a Customs House Agent.(2)If the applicant furnishes postal security or National Savings Certificate, the same shall be pledged in the name of the Commissioner of Customs and the applicant shall get the benefit of the interest accruing on it.
