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A.T.A CARNET BOND

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A Carnet Bond is nothing more than a Merchandise Passport. They are documents used for international custom items to report items being transported into any given country. An ATA Carnet Bonds assists in keeping the overhead cost under control for businesses by keeping them from paying fees and other taxes on a good that are imported.

 

In the event a developer’s surety bond is required Ai Surety Bonding – Affinity Insurance offers Tarion bonds and Excess condominium insurance required in the province of Ontario.

 

The Benefit of an ATA Carnet Bond

  • Simple paperwork.
  • Bond is good for a year.
  • Widely accepted.
  • Takes care of taxes, temporary importation bonds, and duties.
  • Easy to enter the country.
  • Hassle free

These are some major benefits that come with having this kind of bond.

 

Understanding the Details

 

The security of the bond is usually held by the CIB until all liabilities have been taken care of. The owner of the bond needs to understand this is not an insurance policy for their items. All it does is covers the duties and taxes, should the holder of the Carnet Bond not be able to meet up to their obligations.

 

All the paperwork for the bond is typically done digitally once filed. Documents can be downloaded for printing fairly easily. It is a good idea to pay close attention to the wording of the bond so there are no delays in getting one accepted by Customs.

 

Why an ATA Carnet Bond

 

An ATA Carnet Bond is the perfect choice for business owners needing to store their merchandise or equipment in at customs bonded warehouse. The bond provides all the security that is needed to protect the business owner from having to pay duties and taxes before they are ready to pay such fees. The needed cash flow for the business can then be used to supplement other areas of the business that need greater attention in order to keep the business growing and profitable.

 

Other benefits include:
  • Carnet bonds help to qualify for carnet that grants the duty-free and expense free import of goods in other foreign countries for up to one year.
  • Carnet bonds are required at the border for entry and exit of every nation went by. A record of the goods bought in and out is maintained by the customs department, no other additional documentation is required for a period of one year.
  • Carnet bonds can be bought for various trips to be made before takeoff from Canada for various expeditions to a few nations at a pre-decided price.
  • Carnet bonds are issued in English and are accepted in Canada.
  • Payment in Canadian currency is accepted.
  • Carnet bonds Work as a security/guarantee support document.

 

Which goods are allowed to receive an ATA Carnet Bond?

  • Professional equipment like cameras, music systems etc. used for shooting a movie, ads.
  • Commercial Goods
  • Exhibition, trade show, presentation goods.

 

How to apply for an ATA Carnet Bond?

  • Complete the application form
  • Provide with required financials
  • Documents supporting the need for carnet bond
  • Payment

 

Types of Carnet Bonds

 

1. Carnet Bond Multi

 

Bond Wording

 

2. Carnet Bond One

 

Bond Wording
 

Countries Accepting carnets:

Albania, Algeria, Andorra, Australia, Austria*, Bahrain (Kingdom of) Belarus, Belgium*, Bulgaria*, Bosnia and Herzegovina, Canada, Chile, China, Croatia, Cyprus*, Czech Republic*, Denmark*, Estonia*, Finland*, France* Germany*, Gibraltar, Greece*, Hong Kong, Hungary*, Iceland, India, Iran, Ireland*, Israel, Italy*, Ivory Coast, Japan, Korea, Latvia*, Lebanon, Lithuania*, Luxembourg*, Macao, Macedonia, Madagascar, Malaysia, Malta*, Mauritius, Mexico, Moldova, Mongolia, Montenegro, Morocco, Netherlands*, New Zealand, Norway, Pakistan, Poland*, Portugal*, Romania*, Russia, Senegal, Serbia, Singapore, Slovak Republic*, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Taiwan, Thailand, Tunisia, Turkey, Ukraine, United Arab Emirates, United Kingdom*.

 

Applying For Carnet Bonds? Have Questions?

Contact our surety experts at 1-877-213-4545 or surety@bondsurety.ca

 

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