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Guarantee Agreement

Companies and organizations should provide a financial security to the Danish Agrifish Agency (DAFA) at certain occasions. This should ensure that the company fulfils certain financial obligations and that DAFA avoids the risk of financial losses.

When should you use the Guarantee Declaration

You should use the Guarantee Declaration when:

  • You want to import or export agricultural commodities where a license is required
  • A company receives payments to export agricultural commodities
  • A company applies for a license to export or import certain quantities of agricultural products (custom tariff quotas)
  • A company receives payments in advance to produce or export certain commodities within agriculture and fishery
  • A company intends to bid for a tariff duty rate related to import of certain agricultural commodities (tenders)
  • Information campaigns for certain agricultural commodities are launched (promotion).

Requirements in relation to the Guarantee Declaration

  • The required security must be present at the Danish Agrifish Agency on the day of application
  • The application will be turned down if the required security is not received on time. For that reason, we strongly recommend that the security is made and forwarded well in advance before the application deadline
  • The security will be returned when all obligations have been fulfilled
  • Failure to comply with the obligations will lead to full or partial penance

How to provide the security

You can choose between either a standing maximum guarantee or an single guarantee. It must be set in Danish kroner (DKK). However, in relation to a single letter guarantee it can also be set in EURO (EUR) in one of the following ways;

1. In Cash:

This should be done through a money transfer via Internet Banking to the Danish Agrifish Agency account in Danske Bank. The account number is: 0216-4069048692. The guarantee is valid from the date the money is paid to the account of the Danish Agrifish Agency.

2. Letter guarantee:

The guarantor could be your bank or an insurance company in either Denmark or another EU/EEA country. The guarantor must be authorized in the country where the bank, the insurance company or equivalent is a resident. Documentary evidence for this authorization must be presented in form of a declaration from the guarantor. The declaration must be filled in first time the guarantor forwards a guarantee to the Danish Agrifish Agency. The guarantee is valid from the time of receipt in DAFA.

The guarantee statement is exempt from stamp duty and shall bear the text shown below.

3. A deposit guarantee.

The financial institution must be authorized in the EU/EEA country where it is a resident. For instance, it could be your bank which presents the deposit guarantee. The date of the transmission to the deposit account equals the date when the guarantee is made. Otherwise, the guarantee is valid from the time of receipt in the Danish Agrifish Agency.

The guarantee statement is exempt for stamp duty and shall bear the text shown below.

The original letter or deposit guarantee must be forwarded to the Danish Agrifish Agency, Centre for Payment, Central Team. If the letter- or deposit guarantee is to be directly applicable; the guarantor must forward it by e-mail to:
Centralteam@naturerhverv.dk.

Remember to submit the original guarantee statement by post to DAFA afterwards.

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