Financial guarantees

Financial guarantee of customs operations. Financial guarantees are a tool to ensure payment of customs duties

INGO provides financial guarantees:

  • in accordance with the Convention on the Common Transit Procedure (NCTS)
  • in accordance with the Customs Code of Ukraine (on the customs territory of Ukraine using national procedures and declaration forms)
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Financial guarantees

What we guarantee

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A customs liability insurance contract provides a guarantee from INGO for the payment of customs duties.

How it works

How it works

(on the example of the NCTS system)

Thanks to the NCTS system, a company can move its goods in one vehicle with only one transit declaration and one mandatory financial guarantee. Before moving the goods, the trader submits a single declaration to the NCTS system, which is processed by customs officers of all countries along the entire route of the cargo (simplified system).

"INGO (as an official guarantor) can provide both a general guarantee (in this case, the company must obtain the appropriate authorization to use the simplified "Use of a general guarantee" procedure) and individual guarantees for individual customs declarations. Registration of guarantees takes place online and takes up to 10 minutes.

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Benefits of insurance in INGO

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Official guarantor

"INGO has the official status of a financial guarantor and meets all the requirements established by the Law of Ukraine "On the Common Transit Regime and the Implementation of the National Electronic Transit System"
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The speed of registration

We work in the IT systems of the customs services. Registration of guarantees takes place online and takes up to 10 minutes
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Experience and capital adequacy

30 years of experience in dealing with logistics risks allows INGO to effectively implement a new financial guarantee mechanism. "INGO meets all the NBU requirements for liquidity and capital adequacy.
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Financial risks
Insured
How to get a financial guarantee from INGO

How to get a financial guarantee from INGO

  1. Apply for the terms and conditions of the financial guarantee
  2. "INGO analyzes the risks and makes a proposal
  3. Pass the financial monitoring procedure (if necessary)
  4. Sign a liability insurance contract with the customs authorities
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The level of financial stability of INGO

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outlook - "Evolving"
8.12.2023

Frequently asked questions

In this section, we have collected the most frequently asked questions from our clients. If you do not find the information you are interested in, please use the feedback form.
Frequently asked questions
What are the requirements for a company that wants to get transit simplification?

The resident company must have at least 50 T1s issued in the last 12 months or meet the criterion of "ensuring that the competence or professional qualifications of the responsible official of the company meet practical standards". Also, the company must comply with the requirements of customs and tax legislation and have no facts of criminal prosecution.

Are there certain types of financial guarantees?

Thus, guarantees may be provided as individual guarantees covering a single transaction or general guarantees covering several transactions in the form of an obligation provided by the guarantor, if the relevant permission (authorization) to apply such simplification is available.

Who has the right to issue financial guarantees?

Banks, independent financial institutions and insurance companies may act as guarantors. All of them must meet certain conditions stipulated in Article 316 of the Law of Ukraine No. 2510-IX dated 15.08.2022 and be included in the official Register of Guarantors.

What type of financial guarantee is issued?

The guarantee is provided in electronic form and is entered into the national transit system database, but can be issued in the form of a .pdf file or in paper form if necessary.

What determines the cost of a financial guarantee?

The basis for calculating the cost of the guarantee is the amount of customs payments actually guaranteed for the settlement period (reporting month)

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