Comprehensive guarantee
Introduction
A comprehensive guarantee is a single guarantee that covers multiple customs operations and obligations. It is used to secure the payment of customs debts and other charges that may arise under the Union Customs Code (UCC). Instead of providing separate guarantees for each transaction or procedure, the comprehensive guarantee allows the holder to use one instrument for several operations.The guarantee may be applied to customs procedures such as transit, temporary storage, special procedures, or the suspension of duties and charges. It ensures that the customs authorities are secured against non-payment, while providing the operator with a simplified and more efficient way of managing financial securities.The authorization to use a comprehensive guarantee is subject to specific conditions set by customs authorities. These include an assessment of the applicant?s financial standing, compliance record, and, where applicable, Authorised Economic Operator (AEO) status. The amount, coverage, and possible reductions or waivers are determined in line with the provisions of the UCC and its implementing regulations.