Rural Payments Agency Guarantees
Rural Payments Agency Guarantees
The EU Common Agricultural Policy is designed to protect EU producers from cheap imports. The main methods of protection are the setting of duty tariffs to make the imported goods more expensive and limiting the volumes which can be brought in to the EU. However, the EU also makes it more difficult for importers to operate by requiring them to provide cash deposits, or in their place, large guarantees which would be forfeited if the rules of the scheme are not met. Accessing these guarantees is a particularly specialist business.
In the UK, the import schemes are the responsibility of the Rural Payment Agency. Henderson Surety Services are experts in the area of RPA guarantees and especially in finding capacity for the import of chicken from Thailand and Brazil.
Clients should contact Brian Tourle at our London office for more information.
Applicant/risk
Beneficiary
Some EU agricultural schemes involve the payment of subsidies to companies. In turn many such schemes require the lodgement of guarantees to ensure compliance with the terms and conditions of such payments.