Financial guarantee for waste shipments

Cross-border shipments of waste must be covered by a financial guarantee according to Article 6 of the EU Regulation on Shipment of Waste.

The applicant shall secure the waste shipment with a financial guarantee covering, if necessary, the costs of returning the waste to its country of dispatch, storage (90 days), and possible alternative treatment methods. Acceptable collateral includes a guarantee, insurance, or a pledged deposit. Insurance taken out by the company must be submitted to the Finnish Environment Institute in the form of a bank guarantee. The Finnish Environment Institute recommends insuring waste shipments with an on-demand bank guarantee.

The party issuing the financial guarantee shall be a credit or insurance institution, or another commercial financial institution, domiciled in a European Economic Area member state.

Amount of the guarantee

The amount of the guarantee is determined by the cost of return transport, storage, and alternative treatment. The costs are calculated from the actual figures given by the notifier. The financial guarantee must cover the cost of shipping the waste from the country of destination back to Finland; this cost is mainly calculated from offers.

Storage costs are calculated for a 90-day period. It is advised to obtain storage costs from dispatch or destination ports, for example.

The costs of alternative treatments are determined on a case-by-case basis. The basis for their calculation is Finnish waste treatment costs, such as disposal fees for landfill or hazardous waste landfill. The usual reference for hazardous waste is the list prices given by nationwide operators. If the waste has a positive value, treatment costs may be omitted from the guarantee calculation, if deemed reasonable.

The guarantee for waste exports from Finland may be obtained in part for one or several shipments. The minimum guarantee is EUR 2000.

Obtaining a guarantee

For waste shipments within the European Economic Area, a guarantee assigned to the competent authority of the country of dispatch is sufficient. The guarantee document is submitted to the competent authority of the country of dispatch. When importing waste to Finland from outside the European Union, Norway, or Switzerland, the guarantee must usually be assigned to the Finnish Environment Institute as well, even if the competent authority of the country of dispatch has already demanded a guarantee.

The guarantee may be obtained after the Finnish Environment Institute has approved the guarantee calculation submitted by the notifier.

Validity of the guarantee

The Guarantee shall be in force for at least 480 days from the last given date of dispatch.

Guarantee approval

The financial guarantee obtained for a waste shipment is approved by the Finnish Environment Institute as part of the notification process.

Guarantee monitoring

The guarantee shall cover all open shipments of waste. A shipment is considered open from the date of dispatch to the date of treatment, as specified in the shipping document.

Refunding the guarantee

The financial guarantee may be refunded after the competent authorities have received sufficient proof of the acceptance and treatment of the waste shipment in accordance with the permit.

Published 2013-09-09 at 13:05, updated 2015-02-02 at 12:11