Customs Bank Guarantee
Customs proceduresArt. 89-100 – Regulation (EU) No 952/2013 (UCC)
PL: Gwarancja bankowa celna | DE: Zollbürgschaft
Definition
A customs bank guarantee is a form of customs debt security where a bank (or other financial institution accepted by customs) commits to paying customs duties if the principal debtor fails. The guarantee may be individual (for one operation) or comprehensive (covering multiple operations). It is the most popular form of customs security in international trade.