Effective 28 November 2016
EXCISE
EXTERNAL STANDARD
BONDS
Effective 28 November 2016
TABLE OF CONTENTS
1
2
2.1
2.2
2.3
2.4
2.5
2.6
2.7
2.8
2.9
2.10
2.11
2.12
2.13
2.14
2.15
2.16
3
3.1
3.2
3.3
4
5
SUMMARY OF MAIN POINTS
STANDARD
Acceptance of a bond
Security as a condition
Change in legal status of a company
Request for increase or decrease of bond amount
Notice of cancellation and withdrawal of a bond
Breach of conditions covered by a bond
Keeping of records
Penalties
Appeal against decisions
Determining the need for security
Receipt of a bond / addendum
Verification of bonds / addendums and supporting documents
Registration of the bond or addendum
Cancellation of a bond / addendum
Withdrawal / replacement of security
Breach of conditions
RELATED INFORMATION
Legislation
Cross References
Quality Records
DEFINITIONS AND ACRONYMS
DOCUMENT MANAGEMENT
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3
3
3
4
5
6
6
7
7
7
7
8
8
8
9
9
10
10
10
10
11
11
11
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1
SUMMARY OF MAIN POINTS
a)
This document identifies the basis for a decision to request security from Excise clients and identifies
the entities which must be considered for lodging security, as well as the relevant forms of such
security.
b)
It also covers the registration, cancellation, increase, decrease or replacement and governance of
bonds and addendums.
c)
This document does not cover:
i)
ii)
iii)
iv)
v)
2
Customs bonds as this is dealt with in document SC-SE-05;
Licensing and Registration as this is dealt with in document SE-FS-02 and SE-FS-21
respectively;
Completion of bonds and addendums as this is dealt with in document SE-FS-06-M01;
Other forms of security for e.g. placing liens as this is dealt with in the enforcement procedure;
and
Plant and machinery which cannot be used as security to cover any Excise security risks.
STANDARD
2.1 Acceptance of a bond
a)
In terms of Sections 54E(4), 59A(2)(a), 60(1)(c), 61(1) and (2), 64B(3) and (4), 64D(5), the
Commissioner may require that security be lodged, in the form, nature and amount determined by the
Commissioner, in order to protect the State from any possible loss of revenue incurred as a result of
any relevant activity carried out by that client.
b)
Based on this discretion of the Commissioner to call for security or not, the following principles apply
when determining the need for, the form of and amount of security for Excise clients:
i)
ii)
iii)
iv)
v)
vi)
Upon application for a warehouse license or registration, no security will be requested upfront,
except in the case of –
A)
Applicants for the licensing of a Tobacco Manufacturing or Tobacco Special Storage
Warehouse, who intend to manufacture and / or store cigarettes, who must lodge
security to the amount of R2 million before such a client / warehouse may be licensed;
B)
Applicants for the licensing of a Fuel Manufacturing Warehouse, who intend to
manufacture petroleum products, who must lodge security to the amount of R5 million
before such a client / warehouse may be licensed; and
C)
Applicants for registration as a Schedule 6 Rebate User, who intend to receive and store
un-denatured and / or partially denatured spirits, who must lodge security to the amount
of R20 000 before such a client / premises may be registered.
In all other instances the need for security will be based purely on assessed risk.
Such risk assessment of each individual client will be done at least on an annual basis starting
twelve (12) months after licensing / registration but security may also be called for at any time
when deemed necessary to cover a detected risk posed by a specific client.
Security must be in the form of a bond.
Provisional Payments (PPs) will not be accepted as security in lieu of bonds.
Clients whose assessed risk warrants a security amount of less than R20 000 will be exempted
from lodging security.
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c)
The following bonds / addendums must be submitted manually to the Excise Licensing, Registration
and Cancellation Committee (ELRCC) via the Branch Office (B/O) and is applicable to all new licences
/ registrations which require bonds or addendums:
Bond Header Description
i)
Excise Addendum: Amend Bond Amount
ii)
Excise Addendum: Distributor of Fuel
iii)
Excise Bond: Distributor of Fuel
iv)
Excise Bond: Environmental Levy
v)
Excise Bond: Rebates (6th Schedule)
vi)
Excise Bond: Manufacturer of Excisable Products
vii)
Excise Bond: Warehouse (OS & SOS)
d)
Bond number
EA01
EA02
EB01
EB02
EB03
EB04
EB05
The following supporting documents must accompany the bond / addendum:
i)
ii)
iii)
iv)
v)
vi)
A copy of the letter requesting a bond / addendum ;
If a company, the original resolution passed at a meeting of the board of directors; or
If a closed corporation, proof of consent of the members on a letter head; and
The resolution or consent in writing must be:
A)
Typed or printed in block letters on the company’s, close corporations, partners of a
partnership’s, trustees of the trust’s, association’s or organ of State’s letter head;
B)
Legible;
C)
Printed portrait on A4 paper size;
D)
Printed in black ink on white paper; and
E)
On two (2) or more separate pages - no back to back or more than one (1) page to a
page printing is allowed.
The company resolution must contain the following wording:
A)
<Insert the company’s name > <insert registration number> Incorporated in South Africa
(“the company”)
B)
Resolution passed at a meeting of the board of directors held at <insert place> on <insert
date>
C)
Resolved that: <insert what is resolved that e.g. Mr Green Tree, Financial Director and Mr
Joe David Soap, Financial Manager> of the company are hereby authorised and
empowered for and on behalf of the company to sign all documentation including bonds,
addendums and instruments of security in respect of bonds or addendums issued by the
various financial institutions in favour of the South African Revenue Service (SARS)
Excise.
The close corporation, partners of a partnership, trustees of the trust, association or organ of
State resolution must contain the following wording:
A)
<Insert the close corporations, partnership’s, trust’s, association’s or organ of State’s
name> <insert registration number> (incorporated in South Africa (“The Close
Corporation, Partnership, Trust, Association or Organ of State”)
B)
With the express consent in writing of all the members of the close corporation, partners
of a partnership, trustees of the trust or the lawfully delegated of such association or
organ of State.
C)
Resolved that <insert what is resolved that e.g. Mr Green Tree, and Mr Joe David Soap>,
members of the close corporation, partners of a partnership, trustees, association or
organ of State of the Trust are hereby authorised and empowered for and on behalf of the
close corporation, partners of a partnership, trustees of the trust, association or organ of
State, to sign all documentation including bonds, addendums and instruments of security
in respect of bonds/addendums issued by the various financial institutions in favour of
SARS Excise.
2.2 Security as a condition
a)
Clients can make use of various financial institutions for various client type bonds. This means that a
client can have a rebate bond from financial institution X and a warehouse bond from financial
Institution Y.
b)
A list of the insurers approved to issue bonds can be found at www.fsb.co.za.
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c)
A list of South African registered banks (locally controlled) can be found at www.resbank.co.za
d)
Only one (1) bond and / or addendum may be furnished to secure the risk per functionality and / or the
limit required. In other words a client cannot have a bond from financial institution X and another from
financial institution Y both for the same warehouse bond.
e)
Only an addendum registered with the same financial institution as the original bond it relates to must
be accepted.
f)
The client is responsible for informing the SARS immediately if any information on a bond e.g. financial
institution, director, etc. has changed.
g)
Under no circumstances will bonds from foreign banks be accepted.
h)
It is the prerogative of the Commissioner for the SARS that if any client is non-compliant over a period
of six (6) months, a bond can be enforced or the bond amount can be increased.
i)
Bonds and addendums which were registered before the effective date of this document will remain
effective and are not required to be replaced unless there is any legal requirement, such as a change
in the conditions or an increase of bond amounts. For this purpose the following bond numbers apply:
Bond Header Description
i)
General Bond: for Approved Warehouse
ii)
Addendum to Customs and Excise Bond
iii)
Bond: General
iv)
Bond: Manufacture of Excisable Products
v)
Customs and Excise Bond: Excise Rebates
Bond number
DA 108
DA 109
DA 110
DA 111
DA 112
2.3 Change in legal status of a company
a)
The following are regarded as changes in legal status and a new bond must be obtained:
i)
ii)
iii)
iv)
Change in the name of a company; for example a company originally furnished a bond with the
name and identity ABC Close Corporation. Six (6) months later the company decided to change
its name to XYZ Close Corporation. Therefore, the company has undergone a change in name
from ABC to XYZ;
Change in legal identity of a company; for example a company declares the name and identity
on the surety bond as ABC (Pty) Ltd., a private company. The company decides to list on the
Johannesburg Stock Exchange (JSE) and converts its identity to ABC LTD., a public company.
Therefore, the company has undergone a change in legal identity from (Pty) Ltd., a private
company to LTD., a public company;
Mergers of companies; or
Takeovers of companies.
b)
An addendum (EA01 / EA02) may not be utilised for any changes in legal identity.
c)
If there is a change in legal identity, change of ownership, etc. the client must be requested to
complete the applicable application form and annexure as prescribed in the rules.
d)
The client must be given a period of thirty (30) calendar days to produce a replacement bond.
e)
All activities will be cancelled if no replacement bond is received within the prescribed period after
additional time was allowed.
f)
The licensing and registration policy must be adhered to in cases of legal changes as well as to
manage/maintain Legal Entity profiles and amendments (Refer to SE-FS-02, SE-FS-21 and ECS-LER03).
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2.4 Request for increase or decrease of bond amount
a)
Any Excise team may motivate for i)
ii)
Security when the security has been waived; or
The increase or decrease of an existing bond.
b)
A client may inform the B/O of his / her re-calculation of the standard bond amount with the request to
decrease the amount of security accordingly. On receipt of such an application the B/O will forward it
to the ELRCC for consideration.
c)
The addendum (EAO1) must be signed by duly authorised Officers of the principal and of the financial
institution. It must also clearly identify the bond to which it refers, including the name of the financial
institution, the number of the bond, the date of issue, the name of the principal and the amount for
which the bond has been issued.
d)
If a bond must be increased the ELRCC administrator will inform the client accordingly. A new bond or
addendum must be presented to the B/O within thirty (30) calendar days.
e)
The bond amount can only be decreased after the vetting process has been followed and the risk
identified. An application for the decrease of the bond amount must be treated as follows:
i)
ii)
f)
Secured amount is supported by a bond and an addendum:
A)
The applicant may apply for the decrease of the secured amount up to the full amount of
the addendum. In this case the addendum must be cancelled if all obligations there under
have been met; or
B)
The applicant may apply for the decrease of the secured amount up to the full amount of
the addendum and a portion of the bond. In this case a new bond with a new secure
amount must be presented by the client where after the original bond and addendum
must be cancelled if all obligations there under have been met.
Secured amount is only supported by a bond - A new bond with the decreased amount must be
presented by the client where after the original bond will be cancelled if all obligations there
under have been met.
On receipt of such replacement bond, the procedures stipulated in paragraph 2.1(d) must be followed.
2.5 Notice of cancellation and withdrawal of a bond
a)
A bond may be cancelled in the following instances:
i)
ii)
iii)
i)
ii)
iv)
On notice of cancellation by the licensee or registrant;
When the financial institution gives notice in writing of withdrawal of the bond;
When the licensee or registrant has undergone a change in legal identity;
When the licensee or registrant has defaulted, is unable to meet its obligations and the SARS
deems it necessary to cancel the licence or registration or a specific functionality;
When the SARS deems it necessary to cancel such licensing / registration; and / or
When the SARS deems that the client’s risk does not warrant security anymore.
b)
A person, who has no further use for the licenced or registered premises, may apply to the B/O for the
cancellation of such facility. As a result, all bonds furnished for such activities may also be cancelled.
c)
Notice of withdrawal of a bond by a financial institution:
i)
ii)
In terms of Rule 120.09 any person who has furnished a bond may give the Commissioner thirty
(30) calendar days’ notice of withdrawal of such bond. The thirty (30) calendar days period must
commence from the date of receipt of the notification of withdrawal from the financial institution
by the SARS and not from the date of the notification to the client.
After the expiry of the thirty (30) calendar day’s period, no new obligations can accrue under the
bond concerned. However, the financial institution remains responsible for transactions entered
into prior to the expiry of the bond. If the financial institution gives notice to withdraw the bond,
the client must furnish a new bond prior to the cancellation of the current bond or else the
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functionality will be cancelled with the bond. Such replacement bond will only become effective
on the date following the cancellation date of the previous bond.
d)
The client type may be temporarily suspended in order to allow the client additional time to obtain a
replacement bond. The additional time period cannot exceed another thirty (30) calendar days after
the cancellation date of the previous bond.
2.6 Breach of conditions covered by a bond
a)
When the conditions for which a bond has been furnished are not met, the SARS will withhold a
sufficient portion of the bond to cover the outstanding amount payable.
b)
After reasonable attempts have been made to collect from the principal debtor, relevant
documentation to substantiate the claim and a request for payment of the actual amount to be paid by
the financial institution will be made to the financial institution concerned with a copy to the principal
debtor.
2.7 Keeping of records
a)
Every client must keep for record purposes for a period of five (5) years:
i)
ii)
Books, accounts and documents in respect of all transactions relating to the Rules for the
purpose of any acquittal procedure; and
Any data related to such documents created by means of a computer.
b)
The five (5) year period is calculated from the end of the calendar year in which the document was
created, lodged or required (Sections 101 and 101A).
c)
Every client must produce such books, accounts and documents on demand.
d)
Original bonds and addendums must be kept by the SARS Head Office in a safe until a request for
cancellation thereof by the financial institution, the client or the requesting team has been approved
after which the original cancelled bond and / or addendum will be returned to the financial institution.
Copies of these documents must be kept for record purposes.
e)
The ELRCC administrator must file the original bonds and addendums in the safe in an alphabetical
order per bond type.
2.8 Penalties
a)
Failure to adhere to the provisions of the Act, as set out in this document, is considered an offence.
b)
Offences may render the client liable to, as provided for in the Act:
i)
ii)
iii)
Monetary penalties;
Criminal prosecution; and / or
Cancellation / Suspension of a license / registration.
2.9 Appeal against decisions
a)
In cases where clients are not satisfied with any decision taken in terms of the Act they have a right of
appeal to the relevant appeal committee. The policy in this regard, as well as the process to be
followed, is contained in document SC-CC-24.
b)
Should clients not be satisfied with a decision of any appeal committee, their recourse will be to lodge
an application for ADR (Alternative Dispute Resolution) with the relevant appeal committee. The
committee will add its comments thereto and forward the application to the ADR Unit for consideration.
The policy in this regard, as well as the process to be followed, is contained in document SC-CC-26.
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2.10 Determining the need for security
a)
The SARS may call for security or increase (or allow a decrease) in an existing security amount from
any prospective or existing client at any time (i.e. upon application for licensing / registration or
subsequent thereto) when deemed necessary based on assessed risk.
b)
In the event that the ELRCC decides to approve a license / registration, but such approval is subject to
the determination of a BOND, such bond must be lodged by the client once he / she has been
informed thereof by the ELRCC in writing of which a copy thereof will be forwarded to the relevant
B/O.
c)
The ELRCC administrator will then update RAS with the relevant details of the approval of the client’s
application (including bond details).
2.11 Receipt of a bond / addendum
a)
The client submits the completed bond / addendum and supporting documents to the Excise
Assurance Officer (EAO) or other appointed Officer at the B/O where he / she conducts business.
b)
The client must submit his / her original signed bond / addendum together with a copy of the letter
originally forwarded to him / her by the ELRCC administrator requesting a bond or addendum
indicating the amount.
c)
If the bond document(s) is found to be in order, the original bond document(s) will be forwarded to the
SARS Head Office.
d)
The ELRCC administrator will acknowledge receipt of the original bond or addendum.
e)
The client must keep a copy of the completed and signed bond / addendum for record purposes.
2.12 Verification of bonds / addendums and supporting documents
a)
The ELRCC administrator will determine if the bond or addendum is completed correctly and verify the
validity thereof.
b)
If not completed correctly or invalid, the original bond or addendum will be rejected and a notification
for correction will be sent to the B/O with reasons for the necessary corrective action required.
c)
The bond / addendum must be stamped to indicate the date when it was issued by the financial
institution.
d)
The ELRCC administrator will ensure that:
i)
ii)
iii)
iv)
v)
vi)
vii)
viii)
ix)
x)
xi)
Only the SARS approved and published forms are accepted for bond / addendum registration.
The bond / addendum has been issued by a South African registered bank or an insurer
registered with the Financial Services Board (FSB) for the purpose of issuing bonds.
Bonds / addendums issued by foreign registered banks are not acceptable.
The terms and conditions i.e. the wording as contained in the bond / addendum document has
not been altered or changed.
The lawfully delegated principal representative’s names as per the resolution or consent in
writing appear on the bond / addendum.
This means that all new transactions will be processed against the new bond whilst the B/O
must ensure, within thirty (30) days that all obligations recorded against the cancelled bond (old
bond) have been met.
The full names of the representatives and their designations of the individuals authorised to sign
on behalf of the principal and financial institution appear on the bond / addendum.
A signatory signs in his / her own capacity and not on behalf of someone else.
The signatures of two (2) witnesses are present for each signature of the individuals authorised
to sign the bond / addendum on behalf of the principal and financial institution.
Any alterations to the bond or addendum are initialled by all signatories including witnesses.
The corporate seal (stamp) of the financial institution is impressed on the bond / addendum.
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xii)
xiii)
xiv)
The reference number from the financial institution is inserted on the bond /addendum.
No correction fluid has been used on the bond / addendum.
The financial institution on both the bond / addendum corresponds. An addendum to a bond
may not be accepted if underwritten by two (2) different financial institutions.
e)
The representative(s) whose names(s) appear on the original resolution passed at a meeting of the
board of directors or the express consent of the close corporation will be the only person(s) authorised
to sign the bond / addendum.
f)
All signatories on the bond / addendum must correspond with the listed names indicated as authorised
representative(s) on the resolution or letter of consent.
g)
Authorised representatives and their witness(s) whose names(s) appear on the bond / addendum
must initial next to each correction on the bond / addendum as well as at the bottom of each page of
the bond / addendum except for the last page where the original signatures of the representatives and
witnesses must appear.
h)
If an addendum (EA01 / EA02) is lodged, it must clearly identify the bond to which it refers, including
the name of the financial institution, the bond number, the date of issue and the name of the principal
and the amount by which the bond is increased or decreased.
2.13 Registration of the bond or addendum
a)
After the ELRCC has approved the bond, the administrator will continue to register the bond or
addendum on the system.
b)
The ELRCC administrator will:
i)
ii)
iii)
iv)
Complete the bond register with the bond / addendum details;
File the original bond together with the resolution in an alphabetical order per bond type in the
safe;
Attach the original addendum to the original bond in the safe;
Draft the applicable letter to the client informing him / her that the bond / addendum has been
registered and a copy of such letter must be sent to the relevant B/O.
2.14 Cancellation of a bond / addendum
a)
When the financial institution notifies the SARS of its intent to withdraw as surety provider, the ELRCC
administrator will acknowledge receipt of this notification and inform the client of this intent within three
(3) working days.
b)
In such instances, the client must apply for a new bond as prescribed in paragraph 2.1 above and the
ELRCC administrator will ensure that a new bond is registered before the existing bond is cancelled.
c)
Should the client fail to supply a new bond within thirty (30) days, the client’s license / registration will
be cancelled.
d)
If all is in order, the ELRCC administrator will:
i)
ii)
iii)
iv)
v)
Draft a cancellation letter to the client and financial institution;
Retrieve the original bond / addendum and endorse it with the word CANCELLED and the
cancellation date;
Attach the original cancelled bond / addendum to the letter addressed to the financial institution
and a copy thereof to the letter addressed to the client;
Attach the original clearance certificate and a copy of the cancelled bond / addendum to the
copy of the letter addressed to the client and file in the client’s correspondence file; and
Send a copy of the letter to the B/O.
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2.15 Withdrawal / replacement of security
a)
If the financial institution gives the SARS notice of withdrawal, the B/O must inform the client of the
financial institution’s intent of withdrawal and forward an acknowledgement to the financial institution.
b)
If no new bond has been received within thirty (30) calendar day’s period or extended period as
arranged with the B/O, the applicable request will be cancelled.
c)
Such replacement bond will only become effective on the date following the system’s cancellation date
of the previous bond. This means that all new transactions will be processed against the new bond
whilst the B/O must ensure, that within thirty (30) days, all obligations recorded against the cancelled
bond (old bond) have been met
2.16 Breach of conditions
a)
When the conditions under which the client is licensed / registered are not met, and especially if the
client fails to pay any amount due to the SARS on time, the SARS may consider calling up the bond.
b)
Depending on the circumstances, the full or a portion of the bond amount may be called for from the
financial institution.
c)
The B/O must:
i)
ii)
iii)
iv)
Notify the client and the applicable financial institution in writing that the outstanding debt is
payable;
Attach a copy of the bond and / or addendum to the original letter addressed to the financial
institution;
Attach a copy of the bond and / or addendum to the original letter addressed to the client;
Pend the file for follow-up within fourteen (14) days.
d)
On receipt of the request for the call up of a bond the ELRCC administrator will deactivate the bond on
the applicable system in order to prevent any further transactions to be processed.
e)
When the debt has been settled by the financial institution the bond will be cancelled.
f)
The bond amount can constitute the full amount or partial amount which must be collected from the
financial institution.
3
RELATED INFORMATION
3.1 Legislation
TYPE OF REFERENCE
Legislation and Rules
administered by SARS:
Other Legislation:
International Instruments:
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REFERENCE
Customs and Excise Act No. 91 of 1964: Sections 54E(4), 59A(2)(a),
60(1)(c), 61(1) and (2), 64B(3), (4),64D(5), 64F(2)(c), 101 and 101A.
Customs and Excise Rules: 18A.08, 18A.09, 19A.02 (a),19A4.08 (c), 20.17(b),
26.01 (f), 37A.14 (b), 54F.04 (a), 59A.07(2), 59A.08(2), 60.01(1) (e), 60.02(1)
(d), 60.07(2), 64B.01(1,2,3,4), 64D.01(1,3) (c), 64D.04(1), 64D.09(4), 64D.10(5),
64D.11(5), 64D.13(9), 64D(19), 64F.02, 101.01 to 101.03(a), 101A.01 to
101A.12, 120.08 and 120.09.
Promotion of Administrative Justice Act No. 3 of 2000: Section 3
None
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3.2 Cross References
DOCUMENT #
QMS-01
ECS-LER-03
SC-CC-24
SC-CC-26
SC-SE-05
SE-FS-02
SE-FS-06-M01
SE-FS-21
DOCUMENT TITLE
Quality Management System Manual
Legal Entity – External Standard
Internal Administrative Appeal – External Policy
Alternative Dispute Resolution – External Policy
Customs Bonds – External Policy
Licensing – External Standard
Completion of Bonds and Addendums – External Manual
Registration – External Standard
3.3 Quality Records
NUMBER
Annexure A to Rule 54 F
Annexure A to Rule 64 F
DA 108
DA 109
DA 110
DA 111
DA 112
DA 185
EA01
EA02
EB01
EB02
EB03
EB04
EB05
4
TITLE
Pro Forma Bond for Environmental Levy
Pro Forma Bond for a Licensed Distributor of Fuel
General Bond for Approved Warehouses
Addendum to Customs and Excise Bond
Bond: General
Bond: Manufacture of Excisable Products
Customs and Excise Bond: Excise Rebates
Application form: Registration / Licensing of Customs and Excise Clients
Excise Addendum: Amend Bond Amount
Excise Addendum: Distributor of Fuel
Excise Bond: Distributor of Fuel
Excise Bond: Environmental Levy
th
Excise Bond: Rebates (6 Schedule)
Excise Bond: Manufacturer of Excisable Products
Excise Bond: Warehouse (OS & SOS)
DEFINITIONS AND ACRONYMS
Act
B/O
CIPC
Commissioner
CRA
EAO
ELRCC
Financial Institution
FSB
LDF
OPS Manager
OS
Person
PP’s
ROLE (RACI)
Responsible
Accountable
Consulted
Informed
SARS
SOS
Surety
Surety Bond
VAT
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SE-FS-05
Customs and Excise Act, No. 91 of 1964
Branch Office
Companies and Intellectual Property Commission
Commissioner for the SARS
Customs Research and Analysis
Excise Assurance Officer
Excise Licensing, Registration and Cancellation Committee
Banking or Insurance institution approved by the Financial Services Board
Financial Services Board
Licensed Distributor of Fuel
Operations Manager
Storage Warehouse
Includes a company, close corporation, co-operative society, firm, partnership,
statutory body or club
Provisional Payments
This role conducts the actual work or owns the problem.
This role approves the completed work and is held fully accountable for it.
This role may be consulted during the process.
This role is to be informed of the progress and or results.
South African Revenue Service
Special Storage Warehouse
A guarantee, in the form of a bond obtained from an approved financial institution,
to cover any possible risk to / loss of Excise revenue due to client behaviour
An official surety bond issued by an approved financial institution
Value-Added Tax
Revision: 3
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Effective 28 November 2016
5
DOCUMENT MANAGEMENT
Business Owner
Document Owner
Author
Detail of change from
previous revision
Template number and
revision
Bonds - External Standard
SE-FS-05
Executive: Excise Investigative Audit
Executive: Governance
Linda Dellieu
Reference numbers to the bond forms have been amended;
The governance process for the safekeeping of bonds is now dealt with at SARS
Head Office; and
Complete review of the document.
ECS-TM-15 – Rev 7
Revision: 3
Page 12 of 12