Guarantee requirements: monitoring of guarantee arrangements
Whilst it is the trader’s responsibility, as part of their CFSP authorisation, to ensure that their duty deferment/Customs Comprehensive Guarantee level is sufficient at all times to cover their CFSP transactions, officers should ensure that CFSP security provisions are reviewed on an on-going basis and adjusted according to any fluctuations/increases in the trader’s operations.
This is especially important in the case of IRs. Officers must be informed by the trader each time they begin CFSP operations on behalf of a new client. This increase in traffic should then be reflected by a corresponding increase in the level of CCG/deferment.