CGU stands for "Customs Comprehensive Guarantee," which is a security that businesses can provide to customs authorities to cover potential customs duties and taxes that may be incurred on imported goods.
Under EU customs regulations, businesses are required to provide a guarantee for customs duties and taxes, which is intended to ensure that the relevant customs authorities can recover any unpaid customs duties or taxes, as well as any penalties or interest that may be due, in the event of non-compliance.
The CGU is a type of guarantee that covers all customs debts that may arise from the import, transit, or storage of goods, as well as any other potential customs obligations that the business may have.
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