FREIGHT GUARANTEE II A comprehensive guarantee service has been launched by the FTA for its international group members.
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With a few exceptions, any company or individual acting as the principal to a full Community Transit Movement must be covered by a guarantee to ensure the payment of the appropriate charges in the event of the movement not being fulfilled.
Normally, guarantees take the form of an acceptance by an independent party of liability for charges, jointly and severally with the principal. Al! guarantors have to be officially approved by Customs.
While the FTA has offered international group members a fiat-rate guarantee service for several years, these are issued in the form of vouchers that can only be used once.
The new service provides international members with a comprehensive guarantee covering an unlimited number of journeys in any one year. It may be valid for all EEC Member States, Austria and Switzerland, or, if the principal's operations does not involve them all, it may be limited to cover only those countries concerned.
Guarantees ranging from as little as 210,000 to as much as 2500,000 can be provided by the FTA for an annual premium, calculated as a percentage of the maximum amount of the guarantee. Further details are available from the FTA's International Department on 0892 26171.