Procedures: delivery under a guarantee: running accounts of transactions under a standing guarantee
A running account of transactions under each standing guarantee is to be kept and when at any time the penalty of a maximum liability under a standing guarantee becomes exhausted, deposits are to be required for further importations until transactions under the standing guarantee can again be allowed.
If the penalty of a maximum liability under a standing guarantee is found to be insufficient, the importer concerned:
- is to be invited to apply without delay for fresh guarantee for an increased penalty and
- if during the currency of a guarantee, it becomes apparent that the claims to Turkish preference are not genuine but are merely a means of delaying payment of duty, the person giving the undertaking is to be asked to justify further need for the facility.
The facility is to be cancelled immediately where traders are unable to do so.