For the full functioning of the mechanism of financial guarantee in the mode of joint transit and special transit simplifications, the Ministry of Finance adopted an order dated 06.04.2021 № 200 ,,On some issues of customs payment in the regime of joint transit”, developed by the Ministry of Finance together with the State Customs Service with the support of the Reform Support Team at the Ministry of Finance of Ukraine and EU4PFM Programs.

The order simplifies business operations for transit with the use of financial guarantees, namely: it approves the procedure of customs payment in the regime of joint transit using an electronic guarantee management system, which is a part of the national electronic transit system (similar to NCTS *).

The approved procedure, in particular, determines:

• acceptance of financial guarantees, their registration and accounting;
• cancellation of registration, revocation and release of financial guarantees;
• accounting for the provision and release of the basic amount of the total financial guarantee or release from the guarantee, which is carried out using an electronic guarantee management system.

The order also approved the forms:

• individual guarantee in the form of a document of the financial guarantor;
• general financial guarantee;
• certificate of general financial guarantee;
• certificate of guarantee exemption.

On May 17, 2021, the order was registered by the Ministry of Justice of Ukraine and it becomes valid on the day of its official publication.

Additional information on the common transit regime and the procedure for obtaining a permit for the application of special transit simplification can be found at the link посиланням.

NCTS (New Computerized Transit System) is an electronic system used to control the transit operations of goods under customs control by EU countries and other member states of the Convention.

Reference source: Дія.Бізнес.Експорт