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 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.
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