Comprehensive guarantee
(Transit guarantee)
If your business is trading with or through the UK, then you may need a Comprehensive Guarantee. A Comprehensive Guarantee for use in transit operations is often known as a Transit Guarantee.
Follow these steps to apply for a Comprehensive Guarantee:
1. Have a valid Revenue Online (ROS) Certificate
2. Register for your EORI number
3. Engage Revenue for your Comprehensive Guarantee on the Customs Decision System CDS
4. Once steps 1 - 3 are complete, a Financial Institution undertaking (Bank Guarantee) may be required to complete your Transit Guarantee. To arrange an appointment contact your Branch, Relationship Manager or call 0818 506 000, Monday to Friday 9:00- 17:00.
Does your business need Brexit support?
We are ready to support your business to navigate Brexit.
There are four steps you can take to prepare your business for the impact of Brexit:
1. Assess your Business Cashflow Needs
With likely additional supply chain costs, Brexit may affect the cash flow of your business, so give consideration to your working capital needs. We have a number of options detailed below that may be suitable for your business.
2. Consider your Customs and Finance Arrangements
If you are importing goods from the UK, you may need to consider putting a Deferred Payment Arrangement in place with Revenue. You will need a Comprehensive Guarantee from Revenue for this arrangement.
3. Review your Foreign Exchange Risk Exposure
Our Foreign Exchange team can help to design bespoke solutions for your business to mitigate your foreign exchange risk.
4. See How We Are Supporting Our Customers
If you want to talk to us about the impact of Brexit on your business, contact your Branch, Relationship Manager or call 0818 506 000, Monday to Friday 9:00 to 17:00.
Our range of Brexit supports
Find out more about our range of Brexit Supports to help your business manage the impact of Brexit.
Step 1: Cashflow and Finance Needs
If your business needs finance to support your Brexit strategy we have a range of options including Business Credit Line and Business Overdraft.
For further information on the range of solutions and how to apply click here.
Step 2: Customs and Finance
AIB, together with BDO, we held a series of Brexit workshops which focused on customs and finance for businesses. If you are importing goods from the UK the below resources can get you started.
- Watch our workshop video here
- Review BDO's 10 steps to get Customs Ready
- Review Irish Revenue's Customs Payment Options
If your business is trading with or through the UK, then you may need a Comprehensive Guarantee.
Step 3: Treasury Services
One of the most significant effects of Brexit is an increase in exchange rate volatility. Our Customer Treasury Services Relationship Managers can provide you with tailored solutions such as Forward Contracts to help mitigate your foreign exchange risk, providing you with revenue protection and greater cost certainty.
For more information on AIB Customer Treasury Services, click here.
We offer further customer support solutions to assist you in managing the impact of Brexit on your business.
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SBCI Brexit Impact Loan Scheme
AIB have partnered with the Strategic Banking Corporation of Ireland (SBCI) to bring our customers with access to the SBCI Brexit Impact Loan Scheme (BILS). This is a lower cost scheme to fund working capital and investments for businesses, including primary producers, who have been impacted by Brexit and Covid-19.
For further information on the scheme and how to apply click here.
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AIB Brexit research & analysis
Our Brexit Sentiment Index tracks SME business sentiment across the island of Ireland on a quarterly basis. The Index reflects business sentiment across four key measures: Impact on business now, impact on future business, level of visibility and, finally, the wider economic impact of Brexit.
We also publish a broad range of research and provide detailed economic and market forecasts to keep our customers informed in constantly changing markets.
To stay up to date with the latest research and analysis click here.
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Sterling current accounts
Find out more about the implications Brexit will have on the Depositor Guarantee Scheme for customers with Sterling Current Accounts (23-85-90).
For further information click here.
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Additional Brexit resources
Managing Your FX Risk to Survive Brexit
Will your current thinking on managing foreign exchange (FX) risk survive Brexit? Written by our Customer Treasury Services team, read here about how AIB can support you in managing FX risk.
AIB Market Talk Podcasts
AIB Market Talk features a weekly discussion including our Economists and Treasury experts, providing you with specialist insight into the prevailing topics impacting Financial Markets. Listen to the podcasts here.
Important / Regulatory Notice
| WARNING: You may have to pay charges if you repay early, in full or in part, a fixed rate credit facility |
| WARNING: The entire amount that you have borrowed will still be outstanding at the end of the interest only period |
| WARNING: The cost of your repayments may increase |
