.
The Quest
January 2011 - Issue 70
              
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

 

     

                    

              
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 UAEís 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 countryís top import partners. In addition, the UAE was the United Statesí 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 Avalonís Carnet Brochure or USCIBís 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.
  

    
For more information, please contact your local Avalon office or Andriana Davis at (847) 700-8087 or at adavis@avalonrisk.com. A list of our offices may be found at www.avalonrisk.com.
             
       

Avalon Risk Management
150 Northwest Point Boulevard | 4th Floor | Elk Grove Village, IL 60007
Phone: (847) 700-8100 | Fax: (847) 700-8116

www.avalonrisk.com

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