Customer risk and Customs bond: Difference between pages
From ACT Wiki
(Difference between pages)
imported>Doug Williamson (Create page. Sources: The Treasurer, April 2021 - https://www.treasurers.org/hub/treasurer-magazine/risk-management-grosvenors-ian-chisholm, Law Insider https://www.lawinsider.com/dictionary/customer-risk) |
imported>Doug Williamson (Create page. Sources: UK gov https://www.gov.uk/guidance/import-and-export-customs-comprehensive-guarantees-ccgs#:~:text=A%20customs%20guarantee%20is%20an,procedures%2C%20known%20as%20potential%20debt and BBA https://www.bba.org.uk/customers/business-bank) |
||
| Line 1: | Line 1: | ||
''Trade finance.'' | |||
A customs bond is a guarantee supplied by an importer in favour of the a revenue authority, for example HM Customs & Revenue in the UK. | |||
The customs bond is issued by a bank or insurance company in favour of the revenue authority. | |||
It guarantees that the import duty on imported goods will be paid, enabling the business to import and distribute goods before payment of the import duty. | |||
Also known as a ''customs guarantee''. | |||
== See also == | == See also == | ||
* [[ | * [[Advance payment bond]] | ||
* [[ | * [[Bid]] | ||
* [[ | * [[Bid bond]] | ||
* [[ | * [[Bond]] | ||
* [[ | * [[Duty]] | ||
* [[ | * [[Guarantee]] | ||
* [[ | * [[Performance bond]] | ||
* [[Retention bond]] | |||
[[ | * [[Surety]] | ||
[[ | * [[Surety bond]] | ||
[[ | * [[Tender]] | ||
[[ | * [[Trade finance]] | ||
[[ | |||
Revision as of 09:51, 4 April 2021
Trade finance.
A customs bond is a guarantee supplied by an importer in favour of the a revenue authority, for example HM Customs & Revenue in the UK.
The customs bond is issued by a bank or insurance company in favour of the revenue authority.
It guarantees that the import duty on imported goods will be paid, enabling the business to import and distribute goods before payment of the import duty.
Also known as a customs guarantee.
