Before 2021 an Irish importer moving goods through Britain needed one set of paperwork. Now it needs transit guarantees, deferment accounts on both sides, and a comprehensive guarantee sized to peak monthly duty rather than to average.
The recurring problem is not availability. It is sizing. Deferment limits get set once, at the volume the business had when it applied, and then the business grows. The first sign of trouble is usually a consignment held because the deferment account has hit its ceiling mid-month.
We review comprehensive guarantee limits annually against declared volumes, and we will consider an interim increase inside a week where the trade data supports it. It is a small piece of administration that prevents a very expensive kind of standstill.
Written by the underwriting team at FDI Insurance d.a.c., Dublin. This piece is general information, not advice on any particular transaction — and it is not an offer of insurance.
