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
States’ 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. |