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

 

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