The Quest
Special Quest Edition

May 12, 2011

              
Mexico to accept ATA Carnets beginning May 16
 
Mexico will become the 71st country to join the ATA Carnet system on May 16, 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. The USCIB states that more than 160,000 Carnets are issued annually, with total goods valued at more than $20 billion.

Mexico will accept ATA Carnets for commercial samples, professional equipment and goods for exhibitions and fairs. Entry is restricted to 10 major ports. Goods are allowed to stay in Mexico for six months, and extensions may be requested to provide an additional six months. Carnets entering Mexico must also be registered before arrival.

According to the U.S. Department of State, Mexico is the United Statesí second-largest export market and third-largest trading partner overall. Top U.S. exports to Mexico include electronic equipment, motor vehicle parts and chemicals.

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 the 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 contacting us at carnets@avalonrisk.com or (650) 652-4100.
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Avalon Risk Management
       
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