HMFSA2100 - General information: What are the purposes of financial security for premises guarantees?

New applicants for authorised warehouse keeper status are required to provide a financial security for warehoused goods (i.e. a premises guarantee). The effects of this requirement are to:

1. undergo scrutiny by a financial institution as a further stage to ensure that only a fit and proper person is allowed a financial guarantee; and
   
   
2. provide a significant financial commitment (especially for applications relating to General Storage & Distribution warehouse); and
   
   
3. protect the revenue.