Section 99: Guarantor and form of guarantee to be approved by the service

1 For the purpose of this Act, a guarantor must be a third person established in the customs territory and approved by the Service.

2 The guarantor shall enter into a binding agreement to pay the secured amount of duties, excise Customs duties, other Customs duties and fees constituting a customs debt in the event of default.

3 The Service may refuse to approve a guarantor or the type of guarantee proposed, where the guarantor or the type of guarantee proposed do not appear certain to ensure payment within the prescribed period for payment of the amount of the customs debt.