Bonded indemnity

"bonded indemnity" refers to a financial guarantee provided by a third party, such as a bank or an insurance company, to compensate for potential losses or damages incurred during the transportation or storage of bonded goods. It serves as a form of protection for the customs authorities or other stakeholders involved in the bonded operations, ensuring that any financial obligations or liabilities associated with the bonded goods are covered. Bonded indemnity helps mitigate risks and provides assurance of financial security, promoting compliance with customs regulations and facilitating the smooth movement of goods in the supply chain.