ATA Carnet Bond
One-Stop-Shopping for an ATA Carnet and ATA Carnet Bond. It's Easy.
- The United States Council for International Business requires that all U.S. ATA Carnets be financially secured.
- ATA Carnets can be secured with either a surety bond or certified check in an amount equal to 40% of the value of the General List. (Road vehicles exported by a company require 100% security and exported by an individual require 150%.)
- A surety bond fullfilling this requirement can be applied for at the same time you apply for the ATA Carnet.
- You may be requested to supply financial information such as a tax return or financial statement to satisfy the underwriting requirements of the surety company after you submit your carnet and bond application.
- Calculate an estimated premium for the surety bond using the ATA Carnet Budget Worksheet or multiply the value of the merchandise times 40%. The resulting product is then multiplied by $10.00 per thousand. For example: $100,000 General List Value x 40% = $40,000. 40 x $10.00 = $400. surety bond premium. There is a $100 minimum premium. (Note the 100% or 150% bond requirement for road vehicles.)
Return of Security
The security is held by CIB until such time as the carnet is returned and there are no outstanding liabilities pending against the carnet.
Is it Insurance?
The surety bond is not insurance. It guarantees payment of duties and taxes to customs if you, the carnet holder and principal on the bond, are not able to fullfil your obligations under the terms of the carnet and carnet bond. For this reason it is important that you understand the responsibilities of a carnet holder.
What Does the ATA Carnet Bond Say?
At the time of approval of your application your bond will be provided digitally and signed digitally. However, you may download a copy of the bond here for review. If you decide to get your bond from another source, be sure to utilize the bond form wording provided on the downloaded form. Otherwise the bond cannot be accepted.