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DRAFT FINALSOUTHERN AFRICAN DEVELOPMENT COMMUNITYREGIONAL CUSTOMS TRANSIT BOND CHAIN GUARANTEE AGREEMENTPreamble The High Contracting PartiesRECALLING Part three, Article 13, 14, 15 of the SADC Protocol
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A regional customs transit bond is a financial guarantee that ensures the payment of duties and taxes on goods that are being transported through multiple countries within a regional customs union.
Importers, exporters, or transporters who are moving goods through countries in a regional customs union are required to file a regional customs transit bond.
To fill out a regional customs transit bond, you need to provide information about the goods being transported, the route they will take, and the value of the goods. This information is usually submitted to the regional customs authority.
The purpose of a regional customs transit bond is to ensure that duties and taxes are paid on goods that are transported through multiple countries within a regional customs union, while also facilitating the movement of goods.
Information such as the description of goods, their value, the route they will take, and the names of the parties involved in the transit must be reported on a regional customs transit bond.
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