Section 29(5) in The Special Economic Zones (Customs Procedures) Regulations, 2003
(5)The zone unit shall furnish surety for the bond amount or furnish five per cent. of the bond amount as bank guarantee or any other security as approved by the Central Government and in case of surety, the solvency of sureties shall be certified by any Chartered Accountant or the Banker of the Surety, as the case may be.
