Section 4(3) in The Assam Bonded Warehouse Rules, 1965
(3)If the Government approved the opening of a bonded warehouse in any area, the Excise Commissioner shall issue necessary sanction under Section 16 of the Act and inform the applicant and the Collector of the district in which the warehouse is to be opened. He shall also inform the applicant the amount of security to be furnished by him for the due performance of the conditions on which a licence may be granted to him. The amount of security deposit may be fixed at Rs. 5,000 or more according to the volume of business.
