Financial Security. Taking security is normally the exception rather than the rule, however it must always be taken where the trader:
| is a “Phoenix” trader (where an authorisation holder has gone into liquidation, starts another business and applies for an authorisation to use inward processing (suspension system), security must always be a condition of the authorisation |
|
| intends to transfer goods listed in Annex 44C of Regulation 2454/93 | IPR101800 |
| has a poor revenue record (perhaps in regard to VAT or Excise) |
|
| is acting on behalf of a non Community trader and may not have sufficient assets to meet any potential debt | IPR41000 |
| is being considered for offence action | IPR270000 |
| is in financial difficulties or has been involved in an insolvency |
|
| will be using prior export equivalence and the equivalent free circulation goods are subject to export duties |
|
| will be entering a catalyst to assist in the processing of free circulation goods | IPR171000 |
Where a decision to take security is made after an authorisation
has been granted, the amount taken should be sufficient to cover
any suspension goods currently in stock as well as future entries.
If security is not taken and we are subsequently unable to
collect any customs debts incurred on goods entered to IPR, failure
to demonstrate that proper and positive action has been taken could
result in demands for payment of own resources by the EC ie the
department itself may have to meet the debt owed to the EC
Commission.
Council Regulation 2913/92 Articles 88 and 190
