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What types of bonds are there under Customs?

 

 

 

(Visited 1,522 times, 1 visits today)

  1. CB6 – General Bond for Security of Warehoused Goods
  2. Regional Customs Transit Guarantee (RCTG –Transit bond designed to protect revenue on goods in transit under Customs seals in the COMESA region.
  3. CB10 – Bond covering temporarily imported goods (Section 117 EACCMA) & (Reg 132 EACCMR,2010); goods imported for temporary use or purpose which include the following;
  • Goods/stage properties imported for local exhibition or entertainment,
  • Goods imported solely for renovation or repair,
  • Project equipment intended for a temporary use in the Country.
  • Touring promotional material which are not prohibited, and any others as the Commissioner may authorize.
  1. Free Zones/EPZ Bonds: An EPZ Sect. 34(1)(e), Sec 160 (MUBS), Reg. 169-204 bond covers and secures Customs revenue on goods entered in Free Zones/Export processing zones until the final products are exported. It covers taxes on items including; transit of merchandise into Free zones and EPZs for operations such as storage, exhibition, assembly, manufacturing, and processing etc. 
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