Suretyship

FOR LATVIAN CLIENTS

If your business is related to excise goods, logistics, transit, warehousing operations, you may be interested in suretyship insurance.

CONVENIENT SOLUTION

Suretyship insurance exempts the entrepreneur from the necessity to pay a security payment of guarantors’ taxes and duties to the state (the State Revenue Service of the Republic of Latvia (SRS) and other state institutions administering customs duties). It acts as a guarantee to the state that the company will complete the prescribed procedures related to the goods and pay the state taxes and fees specified in regulatory enactments. If the entrepreneur who has concluded the Suretyship insurance contract does not fulfil the obligations to the state, the said losses are compensated to the state by the insurance company in the amount of the basic tax debt and duty.

MARINE UNDERWRITING SERVICES COVERS THE FOLLOWING RISKS

• Suretyship for the common transit procedure (a guarantee for covering the customs debt and/or other financial liabilities arising from transit procedures, which are administered by the customs authorities in connection with the transit procedure)
• Suretyship to cover customs debt
• Collateral for excise tax debt
• Collateral for value added tax debt

WE OFFER TWO TYPES OF SURETY INSURANCE CONTRACTS

• The general suretyship is intended for use in any type of customs procedure with the relevant goods for a period of up to one year
• Single suretyship insurance is intended to be used for single procedure with the relevant goods specified in the contract

SURETYSHIP INSURANCE ADVANTAGES

We guarantee individual approach to each client, explain all the nuances and offer the best solution.