Consultancy
Acquisition of Comprehensive Guarantee Certificate
Comprehensive Guarantee is a type of simplified procedure that allows an authorized person to use a single guarantee for multiple transit operations. It is a highly efficient “simplification” method that eliminates the need to provide individual guarantees for every single declaration.
At M’OCEAN, we provide professional consultancy services to ensure our clients obtain Comprehensive Guarantee Authorization from the General Directorate of Customs in the fastest and most accurate manner.
M'OCEAN
What is a Comprehensive Guarantee?
A Comprehensive Guarantee is a type of guarantee that an authorized person or entity can utilize for multiple transit operations. The comprehensive guarantee amount is set equal to a reference amount determined by the customs office of guarantee in cooperation with the holder of the procedure. A bank letter of guarantee, equivalent to this reference amount, is then submitted to the guarantee office.
The reference amount of the comprehensive guarantee corresponds to the total amount of debt that could potentially be incurred for each common transit operation—covering the period from the placement of goods under the common transit regime until the discharge of that regime.
The comprehensive guarantee operates on a deductible (revolving) basis. Applications for the comprehensive guarantee authorization must be submitted to the General Directorate of Customs.
For detailed information regarding our Comprehensive Guarantee Certificate Consultancy services contact us.
