What Is A General Bond
General bond is a sworn document / oath to adhere to the terms set by the Customs Department in an approved transaction.Requirement
The general bond is required to ensure that terms stated in a particular application form is adhered to within a certified period. If there is proof that the terms had been violated, the bondholder is required to pay to the department a certain amount of cash agreed as compensation for the breach. This is also to ensure that tax is paid on the goods imported either temporarily or in-transit.
Activities Using General Bond
General Bond is required for the following purposes:
- To bind delivery / shipping agent with good behavior
- Vehicle approved by Customs
- Transportation of in-transit cargo by KTM
- Temporary import approval given to Malaysia’s Motor Sport Club on vehicles and rally goods as well as to welfare bodies.
For further clarification, please contact any Customs office or:
Public Relation Unit,
Royal Malaysian Customs Head Office,
Level 7 North, No.3 Persiaran Perdana,
Ministry of Finance Complex,
Precinct 2, Federal Government Administration Center,
62596 Putrajaya, Malaysia.
Tel.: (603) 8882 2413 / 2414
Fax: (603) 8889 5884
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