HMRC Bond

What is an HMRC Bond?

Customs and Excise Bonds HMRC Bonds. The posting of a duty deferment bond or movement guarantee with HM Revenue & Customs (HMRC) allows you to import, store and distribute goods prior to payment of customs and excise duty, thereby freeing up your cash flow.

What we require:

Provide us the details of the Contract which is the subject of the HMRC Bond requirement, including Bond amount and period for which it will be required, together with a completed application form plus:

• A copy of the HMRC Bond wording
• A copy of your last published accounts (if you are part of group then consolidated group accounts as well)
• A copy of your latest management accounts (up to the nearest quarter)

On receipt of this information, the HMRC Bond application will be submitted to our panel of underwriters for their consideration. Our underwriters will review the applicant’s financial strength, their historic trading performance comparative to the underlying obligations of the Bond. Upon successful underwriting, we should be able to offer competitive non-binding indications of terms, as quickly as possible.

Once the applicant has accepted our terms and provided any additional information requested, we will send out the security documents for execution (such as deed of counter indemnity) and an invoice for the premium.

Following receipt of the completed paperwork and premium, we will issue the HMRC Bond