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Faster Carnet Cancellations

Thursday, December 3, 2015

Expect to see carnet cancelations occurring at a faster pace as the U.S. ATA Carnet Service Providers, including boomerang carnets®, are now responsible for canceling their customers' carnets instead of shipping them to a centralized location for cancelation.

The new process will reduce the time needed to cancel a carnet and reduce the risk of loss in transit of a document.

The task of canceling an ATA Carnet may be at the tail end of the document usage but it accomplishes the critical function of wiping out the user's liability. This liability can extend to up to 30 months according to the Terms and Conditions agreed to by carnet users at the time of application.

Proper use of the carnet and returning the carnet timely can significantly shorten that time.

Canceling a carnet expeditiously takes into account several factors including, but not limited to:

  • Receipt of the original carnet document by your Service Provider.
  • Verification that all pages of the carnet are included when it is returned (this includes blank and unused pages).
  • Evidence within the original carnet that the items on the General List were re-exported timely.
  • Evidence within the original carnet that the carnet was validated when entering and leaving each country.

Once a carnet is canceled the carnet bond is also canceled and the carnet user no longer has any liability. Bond liability is typically a maximum of 40% of the carnet General List value.  India has a 55% bond liability.  Road vehicles exported by a company require 100% security and exported by an individual require 150%.

For more information about canceling a carnet contact the boomerang carnets®' Claims Administrator, Kristen Brandt.