ATA Carnet Myths, Mysteries and Misunderstandings Debunked, Unraveled and Explained – 4 of 10

“ATA Carnets require the posting of a cash security.”
 

FALSE: Virtually all ATA Carnets in the U.S. and U.K are secured by a surety bond or insurance guarantee which is applied for simultaneous with the ATA Carnet itself. No large amounts of cash are required. The bond is cancelled when the carnet is closed and the bond premium is non-refundable.

Note that there are some carnet countries that require cash deposits, letters of credit or bank guarantees such as China. If you are applying in a carnet country other than the U.S. or U.K be sure to ask about their specific carnet security requirements.