What is Transit Guarantee?
Transit Guarantee A financial security required by customs authorities to cover potential duties and taxes during the movement of goods under transit procedures.
Source: Incoterms 2020 (ICC), FIATA, IATA DGR, WCO
How is “Transit Guarantee” Used in Practice?
A transit guarantee was required to move the goods across several customs territories without paying duties at each border.
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Who Needs to Know This Term?
- Freight Forwarders
- Supply Chain Managers
- Customs Brokers
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What is Transit Guarantee?
A financial security required by customs authorities to cover potential duties and taxes during the movement of goods under transit procedures.
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