Establishment of Association
The GARANT Eurasian Association of Guarantors (EAG) was established on May 29, 2017 by resolutionof the general meeting offounders.
Key national guaranteeing companies of EAEU member-statesacted as Association Founders.
The GARANT Eurasian Association of Guarantors is a nonprofit corporation based on voluntary membership, established by legal entities for representation and protection of common, including professional, interests of its members.
Mission of Association
Develop key market advantages of the Guarantee issued by GARANT EAG membersvs. other methods of securing payment of customs duties and taxes in transit over the territory of the Eurasian Economic Union (hereinafter – EAEU).
Vision of Association
GARANT EAG is an association that participates in preparation of legislative initiatives making it possible to improve response, efficiency and transparency of operations of the Guarantee market participants.
GARANT EAG is an organization warranting to customs and other government authorities of EAEU states that Association members will perform obligations assumed by them in due time and complete scope.
GARANT EAG Internet resource is an easily accessible electronic platform for prompt interaction among participants in foreign economic activity and entities – members of GARANT EAG under common transparent terms.
Objectives and tasks of Association’s activity
- Promoting establishment of a common system securing payments of customs duties and taxes in the EAEU customs territory, used when placing goods under the customs procedure of customs transit.
- Coordinating operations and promoting key initiatives of GARANT EAG when interacting with government authorities of all levels of EAEU states.
- Standardizing professional requirements to GARANT EAG members as participants in the guarantee market, principles and methods of their work, and unifying documentation management.
- Creating common information space within GARANT EAG framework for the purpose of implementing an integrated management system for risks, cost and quality of services provided by Association members.
- Developing and securing a mechanism of mutual financial guarantees for performance of obligations by GARANT EAG members for customs authorities of EAEU member-states.
- Monitoring and performance assessment of operations of national guaranteeing companies of EAEU member-states and other countries and bringing results of such monitoring to notice of customs authorities of EAEU member-states.
Governance bodies of Association
- General Meeting of Association Members— supreme management authority
- Executive Board of the Association — collective executive authority
- Executive Director— sole executive authority of the Association