May 21, 2014
Bahrain accepts ATA Carnets beginning June 1, 2014
Bahrain will join the ATA Carnet system on June 1st, becoming the 84th country/territory and second GCC member state to join the ATA Carnet System, according to the United States Council for International Business (USCIB). Upon joining the ATA Carnet System, Bahrain will join Lebanon, Iran, Israel and the United States Emirates also from the Middle East.
As the 75th largest export partner for the United States, Bahrain signed an FTA with the United States on January 11th, 2006, which created more export opportunities. Bahrain’s most exported goods fall under categories such as Vehicles, Machinery, Electrical Machinery and Aerospace.
ATA Carnets allow shipments to be temporarily admitted into partner countries without formal entries, individual import bonds or the payment of import duties.
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.
Avalon is a distributor of Carnets and provides a full range of Carnet services. For more information, please view Avalon’s Carnet Brochure or the USCIB’s website at www.uscib.org. You can contact Avalon by emailing email@example.com or by calling our Carnet hotline at (650) 652-6020.Printable version Back to Quest News™