מונחים נפוצים

Did you know? Continuous bonds provide coverage for ₹15,000 crores in annual import duties, benefiting over 15,000 regular importers. These annual guarantees help cut per-shipment costs by 60% and simplify the customs clearance process through pre-approved credit facilities.

Benefits and Cost Savings

With continuous bonds, regular importers can skip the need for individual shipment bonds, which not only reduces administrative work but also speeds up customs clearance thanks to pre-approved credit arrangements. Freight forwarding companies assist customers in obtaining these continuous bonds, which can lower per-shipment costs from ₹2,500-5,000 down to annual fees ranging from ₹25,000-100,000, depending on the volume of imports and duty exposure. This leads to significant cost savings for businesses that frequently import and face substantial duty liabilities.

Qualification and Application Process

To qualify for a continuous bond, applicants must show financial stability, a history of regular import activities, a clean compliance record, and suitable credit guarantees. Indian customs will assess the applicant's financial strength, import volumes, duty payment history, and the proposed guarantee amounts before granting approval for continuous bond facilities. Freight forwarding companies play a crucial role in helping customers prepare their applications, compile necessary documentation, and demonstrate compliance to ensure a smooth approval process and favorable terms.

Compliance and Management

Managing continuous bonds involves ongoing compliance checks, timely duty payments, accurate documentation, and regular reviews to ensure credit adequacy and performance. The bond conditions include payment guarantees, compliance commitments, and reporting requirements to safeguard customs revenue. Freight forwarding companies offer management services for continuous bonds, which include compliance monitoring, coordinating payments, and handling renewal processes to keep everything running smoothly.