Execution of bond:

The importer executes a Bond in Form B 17 fixed by the Assistant Commissioner of Customs, undertaking to fulfill the obligations and conditions stipulated

(a) in this notification

(b) under Import Control Policy

and also undertaking to pay on demand an amount equivalent to the duty leviable on the goods, which are not proved to the satisfaction of the Assistant Commissioner to have been used in the manufacture of articles for export. A general surety/security bond is to be executed by such units. It is for the provisional assessment of goods for export of goods to foreign countries without payment of duty and for accountal/disposal of excisable goods procured without payment of duty.