How does 40% deposit work on Carnet? at DVinfo.net

Peter Richardson · May 31st, 2008, 12:51 PM

Hey guys,

I am about to do a trip to Melbourne, Nice, and London, and need to get Carnet for my gear. I'm wondering how the 40% deposit works, though. Does this really mean I need a bond or cashiers check for 40% of the value of my gear? That is going to be about $25,000 in my case. I'm wondering if I'm missing something here.

Thanks!

Peter

Jim Andrada · May 31st, 2008, 11:16 PM

"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."

Seems pretty clear that it's indeed 40% of the value of the equipment. If I were you I'd certainly look into the surety bond option.

I've never gotten one myself but have received goods that came into the US on a carnet. It was actually sort of a hassle dealing with the specifics of how to use it and how to return the goods, but I think this was because they were shipped by air freight and getting the paperwork from the customs brokers/shipping companies was sort of complicated as they have very specific and arcane policies about to whom they will release the paperwork and the physical carnet itself. As an "amateur" importer/exporter it was pretty confusing

I think if you're "hand carrying" the equipment life will be simpler as you'll be the original carnet holder.

In any case, give the USCIB folks a call and explain what you're trying to do and ask their advice. People tell me that they're easy to deal with.

Bill Ward · June 4th, 2008, 12:34 AM

USCIB is the way to go. My carnet had about a $100K of gear on it, and I did the surety bond for about $900, as I recall. It's good for at least a year. Kind of a hassle always having to go thru customs, but FAR less of a hassle than getting zinged by an over-zealous customs official.

Peter Richardson · June 5th, 2008, 12:39 AM

Thank you Bill and Jim for the words of advice! I'll report back if I have any trouble, but it sounds pretty straightforward.

Peter

May 31st, 2008, 12:51 PM	#1
Peter Richardson Major Player Join Date: Mar 2003 Location: Portland, Oregon Posts: 608	How does 40% deposit work on Carnet? Hey guys, I am about to do a trip to Melbourne, Nice, and London, and need to get Carnet for my gear. I'm wondering how the 40% deposit works, though. Does this really mean I need a bond or cashiers check for 40% of the value of my gear? That is going to be about $25,000 in my case. I'm wondering if I'm missing something here. Thanks! Peter

May 31st, 2008, 11:16 PM	#2
Jim Andrada Inner Circle Join Date: Feb 2007 Location: Tucson AZ Posts: 2,211	"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." Seems pretty clear that it's indeed 40% of the value of the equipment. If I were you I'd certainly look into the surety bond option. I've never gotten one myself but have received goods that came into the US on a carnet. It was actually sort of a hassle dealing with the specifics of how to use it and how to return the goods, but I think this was because they were shipped by air freight and getting the paperwork from the customs brokers/shipping companies was sort of complicated as they have very specific and arcane policies about to whom they will release the paperwork and the physical carnet itself. As an "amateur" importer/exporter it was pretty confusing I think if you're "hand carrying" the equipment life will be simpler as you'll be the original carnet holder. In any case, give the USCIB folks a call and explain what you're trying to do and ask their advice. People tell me that they're easy to deal with. Last edited by Jim Andrada; June 1st, 2008 at 01:36 AM.

June 4th, 2008, 12:34 AM	#3
Bill Ward Major Player Join Date: Jul 2005 Posts: 580	USCIB is the way to go. My carnet had about a $100K of gear on it, and I did the surety bond for about $900, as I recall. It's good for at least a year. Kind of a hassle always having to go thru customs, but FAR less of a hassle than getting zinged by an over-zealous customs official.

June 5th, 2008, 12:39 AM	#4
Peter Richardson Major Player Join Date: Mar 2003 Location: Portland, Oregon Posts: 608	Thank you Bill and Jim for the words of advice! I'll report back if I have any trouble, but it sounds pretty straightforward. Peter