What is required to execute a bond?
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- Permission from Manager Legal & Bonds to execute a bond.
- A valid license of the clearing firm.
- A valid license of the bonded warehouse.
- A valid license of an authorized insurance company from IRA.
- Invoices/packing lists for equipment or items for temporary importation.
- Copies of contracts.
- Stamp duty certificate for contracts under which a transaction is sought.
- Stamp duty certificate on the amount of bond to be executed (0.05% of bond amount).
- Bond Instrument duly signed and sealed by all parties.
- Cash guarantees.
- And any other relevant information
