CONVINCED that this can be achieved by the widespread acceptance and implementation of the ITI Convention,

CONSIDERING that to facilitate the initial application of the ITI Convention it has appeared desirable to help guaranteeing associations to assess the risk involved, with a view to enabling them to obtain insurance cover for the purposes of the ITI international guarantee system,

RECOMMENDS to each Contracting Party to the ITI Convention that in the instruments of approval of guaranteeing associations it be specified that the maximum financial liability of the association in respect of each individual ITI guarantee card in any one calendar year shall be US$300,000,

REQUESTS Members of the Council and members of the United Nations Organization or its specialized agencies, and Customs or Economic Unions, which accept this Recommendation to notify the Secretary General of their acceptance. The Secretary General will transmit this information to the Customs Administrations of Members and of other States that are Contracting Parties to the ITI Convention.

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