Frequently Asked Questions

Container Guarantee FAQs

EACBond : Container Guarantee can facilitate you.

EACBond Container Guarantee improve your cashflow by facilitate all type of container deposits on your behalf to Shipping Lines. EACBond : Container Guarantee also come with Container insurance to cover Loss or Damage to a Container carrying cargo under the EAC RECTS Surveillance, following Collision, Overturning, Fire, Hijack, Hold-up of the conveying vehicle, including Loading/Unloading Risks, excluding Political Risks & Theft by Servant or Demurrage charges.

We collaborate with East African Community Secretariat (EAC), EAC Partner State Revenue Authorities, AfriExim, DTB Bank, Jubilee/Allianz Assurance, Customs Agents and other RECTS stakeholders to offer the services in the region.

We will work with all ShippingLines including but not limited to MSC, INCHCAPE, MESSINA, CMA CGM, WOSAC & W.E.C Lines, COSCO, PIL, EMIRATES & MAERSK.

Kenya, Uganda, Tanzania, Rwanda, Burundi, DRC, South Sudan

  • Container in custom secured vehicles under the RECTS.
  • Cover in respect of loss or damage following a Road Accident to the truck carrying the container or from loss following Collision, Overturning, Fire, Hijack, Hold-up of the conveying vehicle, including Loading/Unloading Risks; except Political Risks and Theft by Servant.
  • Any accident leading to loss or damage to the insured Container to be reported to the EAC Administration and Control Unit and the EACBond Platform within 24 hours.
  • Approved insurers, reinsurers and brokers shall be given specified access to the RECTS and EACBond Platform and reports relevant to approval of bonds, policies and relevant reports.
  • All claims payable to be paid to the Insured.
  • Premium to be paid upfront by the Carrier before execution of the Bond.

USD 3,500 for 20 ft container, whichever is lower.
USD 5,000 for 40 ft container, whichever is lower.
USD 20,000 for 20 ft container refrigerated, whichever is lower.
USD 35,000 for 40 ft container refrigerated, whichever is lower.

According to Shipping Lines and Port Authority Guidelines. Normally the charges will be according to Transit Validity Period such as:
  • 15 days
  • 30 days
  • 45 days

Exclusion is as below:
  • Wear and tear, corrosion, rottenness, inadequate maintenance and the like.
  • Errors in design/ manufacture or faulty material.
  • Mechanical/ electrical breakdown or malfunction.
  • Mysterious disappearances or inventory loss.
  • Inherent vice, quality or defect.
  • Insolvency or financial default.
  • Unfitness of conveyance for the safe carriage.
  • Embargo, requisition or order of any authority.
  • Consequential loss or legal liability of any kind.
Other terms and conditions to follow final policy wording.

United State Dollar (USD) for all transactions and claims.

The insurance shall be governed by and construed in accordance with the laws of the East African Community Member Countries and each party agrees to submit to the exclusive jurisdiction of the courts of the East African Community.

Customs Transit Bond FAQs

EAC Customs Transit Bond cover all customs, duties and taxes arising from single transactions due to Customs Authorities, except Political Risk. The calculation of the applicable Duties and Taxes shall be in accordance with the applicable amounts set by the Customs Authorities in the EAC Countries through which the goods are travelling. The EAC Customs Transit Bond applies on full container loads and or full vehicle loads only (i.e., no groupage consignments). We collaborate with East African Community Secretariat (EAC), EAC Partner State Revenue Authorities, AfriExim, DTB Bank, Jubilee/Allianz Assurance, Customs Agents and other RECTS stakeholders to offer the services in the region.

Kenya, Uganda, Tanzania, Rwanda, Burundi, DRC, South Sudan

  • All dutiable goods must travel as containerized cargo in custom-secured vehicles under the RECTS and EAC Bond Platform.
  • All Carriers must be duly licenced and approved by relevant Revenue / Customs Authorities./li>
  • Excess the first 10% of claim amount or minimum USD 500, whichever is higher. (For a bond is this necessary, the liability is a first demand and under guarantee. If we have to consider then a flat deductible of say US$ 1,000 would be ideal.
  • If the goods in transit are completely destroyed arising from a catastrophic accident, and verified as such, then the Customs Transit Bond shall be cancelled and no duties or taxes shall apply.
  • Any defaulting Carrier, Customs and Clearing Agents / Firms shall be blacklisted in the EAC BOND PLATFORM. In the event of a claim being paid hereon the EAC / Revenue / Custom Authorities will suspend the issue of any further Single Transaction Custom Transit Bonds to the Company from the date of payment of the claim and this will remain in force until the Company has refunded the full amount of indemnity paid under the applicable Single Transaction Customs Transit Bond to Insurers.
  • Approved insurers, reinsurers and brokers shall be given specified access to the RECTS and EAC Bond Platform and reports relevant to approval of bonds, policies and relevant reports.
  • Premium to be paid upfront by the Clearing and Forwarding agents / firm before execution of the Bond.
  • The Customs Transit Bond shall be terminated when the e-seal has been deactivated by Customs Officer.

Maximum Single Transaction Limit is USD 100,000.
Maximum aggregate per annum all Single Transaction Customs Bonds for any one Company of EAC / BSMART is USD 500,000.00

Each Single Transaction Bond is valid for 30 days.

The Bond commences from the time the RECTS eSEAL/eLOCK/eFUEL is attached to the container at the port of import by Customs personnel, whilst in-transit for up to a maximum of 30 days and cease upon removal / deactivation of RECTS eSEAL/eLOCK/eFUEL by customs personnel.

Exclusion is as below:
  • Wear and tear, corrosion, rottenness, inadequate maintenance and the like.
  • Errors in design/ manufacture or faulty material.
  • Mechanical/ electrical breakdown or malfunction.
  • Mysterious disappearances or inventory loss.
  • Inherent vice, quality or defect.
  • Insolvency or financial default.
  • Unfitness of conveyance for the safe carriage.
  • Embargo, requisition or order of any authority.
  • Consequential loss or legal liability of any kind.
Other terms and conditions to follow final policy wording.

United State Dollar (USD) for all transactions and claims.

The insurance shall be governed by and construed in accordance with the laws of the East African Community Member Countries and each party agrees to submit to the exclusive jurisdiction of the courts of the East African Community.