Customs Transit Bond
The Customs Transit Bond is a guarantee to customs authorities that duties and taxes will be paid for any goods declared for transit through the East African region. This bond mitigates non-payment risks, enabling traders to transport cargo across multiple countries without making pre-payments at each border. Upon lodgement of the transit declaration, the bond is activated, and it automatically deactivates once the cargo reaches its final destination.
Inland Goods in Transit Insurance
The Inland Goods in Transit Insurance offers coverage for unforeseen circumstances that could delay cargo or lead to losses during inland transport within the EAC. It protects traders from financial losses due to incidents like traffic accidents, hijackings, acts of terrorism or natural disasters. With this mandatory insurance in place, traders can transport goods safely without worries, knowing their cargo is fully insured for the declared value.
Container Guarantee
The Container Guarantee provides a financial security for any containers, pallets or other transport equipment declared for a customs transit operation. It ensures that export containers and equipment used to transport cargo through multiple countries are either re-exported or customs duties are paid. This guarantee eliminates blockages at borders due to missing containers and facilitates a seamless flow of equipment across the region.