The fair operator shall file a bond on Customs Form 301, containing the bond conditions set forth in Sec. 113.62 of this chapter in such amount as the port director requires. Liquidated damages shall be assessed by the port director under the bond if payments required by Sec. Sec. 147.33, 147.41 or 147.43 are not paid upon demand. [T.D. 84-213, 49 FR 41186, Oct. 19, 1984]