The Ekal Anubandh project by CBIC introduces a Single All-India Multipurpose Electronic Bond (SEB) to streamline trade processes by replacing multiple transaction-wise bonds across ports. This initiative enhances efficiency, reduces costs, and minimizes paperwork through full automation. Importers and exporters can now execute and manage a unified bond electronically via ICEGATE, ensuring seamless compliance and faster clearance.
Key Points:
- Purpose of Ekal Anubandh
- Introduces a Single Unified Multi-Purpose Electronic Bond (SEB).
- Replaces transaction-wise bonds required at different ports.
- Aims to enhance efficiency, transparency, and reduce administrative burdens.
- Key Features of SEB
- Importers/exporters can execute a common bond electronically via ICEGATE.
- Allows addition of new obligations or amount modifications.
- Digital execution and stamp duty payment through NeSL.
- Integration with Electronic Bank Guarantee (e-BG) for secure transactions.
- Benefits of SEB Implementation
- Reduces paperwork and manual intervention.
- Saves time and costs for businesses.
- Enhances real-time tracking and security of documents.
- Ensures faster trade clearance with reduced delays.
- Transition to Digital Bonds & Bank Guarantees
- Digital execution eliminates the need for a physical notary.
- Streamlined process for submitting and linking bank guarantees.
- Ensures uniformity and compliance across customs locations.
- Implementation & Stakeholder Engagement
- Phased implementation with user feedback integration.
- CBIC advises Chief Commissioners to sensitize trade stakeholders.
- ICEGATE advisories to provide detailed procedural guidance.
Notification Reference: Customs
Circular No.: 04/2025-customs
(17/02/2025)