SARS Customs Updates to the Bonds Policy
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SARS updated its Bonds External Policy (SC-SE-05) effective from 26 March 2025. If you or your clients deal with customs registration, licensing, or bonded goods, this update is worth your attention.
The updated Bonds Policy provides practical guidance on the use of surety bonds required under the Customs and Excise Act, and includes important clarifications and procedural improvements.
🎯 Purpose of the Bonds Policy
The Bonds Policy outlines:
When and why surety bonds or addendums are required
The forms and amounts of security
The verification, replacement, and cancellation process for surety bonds
Requirements for temporary imports, Special Economic Zones (SEZs), and deferment accounts.
It’s an essential reference for customs clients, especially importers, exporters, clearing agents, bonded warehouse operators, SEZ participants, and their advisors.
🚨 What’s New in the Updated Bonds Policy?
SARS made four important changes to improve clarity and compliance:
Clarity on Consignor Bonds (Rule 64D.11(5)(a))
The policy now clearly explains that:
A consignor bond must be furnished when a consignor uses a South African licensed carrier, or a foreign carrier represented by a local agent, to transport bonded goods by road.
This ensures customs risk is secured even when third-party carriers are used.
New Rule Added – Rule 12.08
The policy now includes Rule 12.08, which relates to the authentication and annual confirmation of surety bonds and addendums by financial institutions. If the bond is not confirmed as valid, it may be cancelled by SARS.
Clear Guidance on Correcting Surety Bonds
SARS has clarified how to correct or update existing bonds, including:
When a bond must be replaced (e.g., due to a change in legal identity or merging of entities)
When an addendum can be used (e.g., to increase or decrease the bond amount)
That addendums must be issued by the same financial institution as the original bond.
Removal of Financial Institution Names
Specific bank names have been removed from the policy. Instead, SARS now refers to:
Approved South African banks listed with the South African Reserve Bank, and
Registered insurers with the FSCA.
This ensures consistency with up-to-date regulated lists.
🧾 Why It Matters to You
Whether you’re a clearing agent managing licenses, a financial manager arranging customs guarantees, or an accountant reviewing compliance, these changes affect how you:
Structure bonds and financial security for SARS registration;
Update and manage existing bonds across multiple locations or business types;
Ensure validity of bonds via your bank or insurer, avoiding cancellation and suspension of customs activities.
📌 Bottom line: Make sure your clients’ surety bonds meet the updated requirements. Especially important for logistics providers, bonded warehouses, SEZ operators, and anyone importing or transporting bonded goods.
