April 22, 2013
Madagascar accepts ATA Carnets beginning April 22
Madagascar, a member of the Common Market for Eastern and Southern Africa, has joined the ATA Carnet system on April 22, according to the United States Council for International Business (USCIB).
ATA Carnets allow shipments to be temporarily admitted into partner countries without formal entries, individual import bonds or the payment of import duties. Madagascar will accept ATA Carnets for commercial samples, professional equipment and goods for exhibitions and fairs. Joining the Carnet system is part of Madagascar’s drive for better access to world trade, notably through regional integration and the development of tourism.
The USCIB states that more than 150,000 Carnets were issued in 2012, with total goods valued at more than $17 billion. Carnets are good for one year and can be used in any of the 80-plus countries and customs territories that honor them.
ATA Carnets require a single Carnet bond to be secured within the country of origin, but they do not exempt holders from obtaining necessary licenses or permits. As the National Guaranteeing Association, USCIB is required to take security, usually 40% of shipment value, to cover any Customs claim that might result from a misused Carnet. Acceptable forms of security are certified check or surety bond. Cash deposits are returned in full and surety bonds are terminated upon Carnet cancellation.
For more information, please view Avalon’s Carnet Brochure or the USCIB’s website at www.uscib.org. Avalon provides a full range of Carnet services as well as bonds and they can easily be obtained by contacting us at firstname.lastname@example.org or (650) 652-4100.Printable version Back to Quest News™