Mr. Gerry Harrahill:

Yes. The rationale behind it and the thinking for our guarantee is if the goods go missing, the EU is not at a loss for the customs duty because the guarantee can be called on to cover that. That is what makes us slightly different. In fact, under the new Union customs code, even companies that have an existing guarantee must have it replaced by May of this year.

Part of the fallout from Brexit will be that an existing guarantee with a UK-based bank will no longer be valid. Unless that bank sets up an operation elsewhere in the EU, the company will have to source another bank.