Transit Guarantee
A Transit Guarantee (often referred to as the Customs Comprehensive Guarantee (CCG)) is required when moving goods under the Customs Transit procedure.
Because the goods travel through customs territories without being immediately cleared, a guarantee must be in place to cover any potential customs debt. This includes possible Customs Duty, VAT or excise duty.
The guarantee ensures that if the goods do not arrive at the authorised office of destination to properly discharge the transit procedure, the customs authorities can recover the amount owed from the guarantee account.