Hello,

I'm just starting to apply for my Carnet for a trip starting in September. I know through the RAC there are 2 ways to 'underwrite' the value required for the bike/carnet/potential taxes - Bank Guarantee or Insurance through R.L.Davison.

Everyone seems to mention the insurance route, which causes cash-flow problems of £350 plus whatever charges they make (would be £420 for me I think).

I looked at the Bank Guarantee form, and thought I'd give it a try first. Landlords often require that similar letters to be sent to them by a Bank before renting property and the charge is minimal (c£10-15 depending on your bank I think).

The staff didn't seem to have a clue and tried to get me to send it to their lawyers at the head office however I saw the manager was helpful and just used my V5 document to fill the form in. It's to be sent away to be 'processed' today (to the same place that they send the rental guarantee forms to if your bank is similar).

I also gave the RAC a call to see if the banks do actually sign up to their form and the lady assured me that they do get them signed by banks.

What I'm trying to point out is that by no means do I have the amount that would be required in my account to cover any potential payout, however hopefully just by popping into a branch and then waiting for what I expect will be a week or two I will hopefully have saved myself fair few hundred £££.

Am I therefore missing something here as I cannot understand why so many people seem to opt for the insurance choice. Is it likely that I will be 'rejected' as I do not have the funds in my account? Hopefully I haven't spoken too soon as I don't have a signed form yet but hopefully this will prove useful to anyone in the UK applying.

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Chris
www.motocrossafrica.co.uk

I got my bank guarantee back from Barclays UK last week and sent it through to Paul G and all is in order. It took about 3 weeks from walking in the banch to getting it back in the post, including the counter-indemnity you need to sign for the bank. Yes the staff at the branch have no clue what you are talking about but if they run a check in their intranet then the number for the "Financial Services Team" will send them in the right direction. I also spoke to the FST when they had to help me fill in the counter-indemnity anbd they are very clued up and helpful. To raise the guarantee the amount of many in your account is not important (I had £500 at the time and my savings are held elsewhere). You need a good credit reference.

On the otherhand we tried to organsie the bank guarantee for my wife's bike. She banks with Barclays Isle of Man and after 5 days of speaking to almost everyone in the bank including referring them to Barclays Mainland, they were adamant that they did not provide that facility. They never returned our calls and generally their service was rubbish and unhelpful. We have had to go with the more expensive Surety route for her bike.

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If there's a will there's a way so I will anyway!
http://www.buyaikhaya.blogspot.com

Update: After 3 weeks of waiting, I was sent the form back with no note and no progress. I 'complained' to the Branch Manager, who told me he was expecting to find out later that day who it should actually have been sent to! In the end the Bank's lawyers drafted their own version of the letter for me, and charged the Bank £100. I agreed to pay half of this, given it had taken me a month to obtain by this time. The Branch Manager signed it off and it should now be in the post on it's way to Paul G.

Summary: Can save money, but allow 4-5 weeks (given post above too).

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Chris
www.motocrossafrica.co.uk