MIC extends its customs filing solution MIC-CUST® by a module for monitoring of guarantees

News | Customs Filing 22 March 2018

With the introduction of the European Union Customs Code (UCC), new regulations regarding the provision of guarantee for customs duties have entered into force.

Basically, with a few defined exceptions, any customs debts that may arise and have arisen must now be covered by a guarantee. The guarantee can be provided in various ways. The guarantee may also be lodged as an overall guarantee if it is to be used for several operations, customs declarations or customs procedures.

In order to ensure that the outstanding customs duties never exceed the amount of the guarantee, both the customs administration and the company that is obliged to provide the guarantee must continuously monitor the reference amount for the guarantee.

To simplify the process of monitoring guarantees for its customers, MIC has extended its customs filing solution MIC-CUST® with another sub-module, MIC-CUST® GUM (MIC Guarantee Management).

MIC-CUST® GUM enables companies to monitor the reference amount of one or more guarantees, and this across clients. For example, the reference amount of a guarantee which may or may not be debited as a result of customs debts is released as soon as the customs debts have expired or can no longer arise.

The new module MIC-CUST® GUM supports:

  • the establishment of guarantees
  • cross-client monitoring of guarantees
  • various customs procedures

About us:

MIC is the world's leading provider of software solutions for global customs and trade compliance. This means: MIC customs and trade compliance software is used by more than 700 customers in 50+ countries on six continents.

You want to know more about MIC-CUST® GUM? Please contact us at [email protected] for more information.