Inside
this issue:
ISF enforcement:
Where we are now
Disaster in Japan: Avalon assists in
aid, BCP reminder
CBP updates: Bond insufficiency, new
address for mailing checks
FMCSA elimination of Cargo Insurance,
BMC-32 takes effect March 21
CSA motor carrier
ratings now in force
New ACORD form changes how logistics
providers
verify insurance
Revised Incoterm rules
take effect
UAE joins ATA
Carnet system
Claims corner:
Worldwide Coverage
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UAE joins ATA Carnet system
The United Arab Emirates (UAE) will become
the 69th country to join the ATA Carnet system, 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 payment of import duties. According to the USCIB,
in 2009, more than 150,000 Carnets were issued, covering
goods worth more than $17 billion.
The UAE’s acceptance of
ATA Carnets is expected to increase trade, especially with
the United States. According to the
UAE embassy, the United States is one of the country’s
top import partners. In addition, the UAE was the United
States’ largest export market in the Middle East, with $14.4
billion in exports during 2008.
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 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
writing to
carnets@avalonrisk.com.
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