Individual guarantee
Also called: single guarantee · münferit teminat
A guarantee given for one specific operation, such as a single transit movement or temporary admission. It may be a cash deposit, a guarantor's undertaking or a voucher, and is released once the operation is discharged.
In practice
Occasional users often rely on individual guarantees, which can tie up cash until the procedure is closed.
Related terms
- Comprehensive guarantee
- A single guarantee covering the amount of duties for several operations, declarations or procedures over time, rather than one shipment. It is fixed…
- Customs guarantee
- Financial security, such as a cash deposit, bank guarantee or surety undertaking, provided to ensure payment of a customs debt that has arisen or may…
- Customs bond
- A US contract between the importer, a surety company and CBP guaranteeing payment of duties, taxes and penalties and compliance with regulations. A…