Definicja fixed bond

An excise bond whose value is the total amount of basic excise duty (BED) that the bond can cover over its entire lifetime.

Every time you post an export, the bond value is reduced by the BED amount. Eventually, the net bond value reaches zero and cannot be used any more.

Example

You have an excise bond with a value of INR 10,000. You export some goods with a basic excise duty value of INR 8,000, then you export some more with a BED value of INR 2,000. The excise bond now expires.