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CFO Webinar Assembles ATA Carnet Experts

Friday, May 13, 2022

Boomerang Carnets Shares EXCLUSIVE Strategies for CFOs

The Boomerang CFO Webinar returns by popular demand.

Boomerang carnets® has created a concentrated webinar geared exclusively to CFOs that shares strategies to improve Cash Flow and Financial Management, promote Growth, and create Jobs.  The 30-minute presentation was designed exclusively for CFOs to highlight the financial management potential and cost saving features of the ATA Carnet or “Merchandise Passport,” an internationally accepted Customs document for temporary exports.  Emphasis focuses on main concerns of CFOs: cash outflow reduction and cost controls to reduce or eliminate “overseas deposits” that create stagnation that multiplies over time.  The Boomerang CFO Webinar is a rare opportunity to learn from experts with experience and leadership in the field over many years. 

The ATA Carnet, also referred to as the “Merchandise Passport,” allows for temporary entry of goods on a duty-free and tax-free basis, whether shipped or hand carried.  The ATA Carnet system was established by the International ATA Convention and is governed by international treaty between the World Customs Organization, and the International Chamber of Commerce’s World Chambers Federation.  The aim is to encourage world trade and reduce trade barriers created by different national customs regulations.  The initials “ATA” are from the French and English words “Admission Temporaire/Temporary Admission.”  In the 1960s, U.S. Customs appointed the United States Council for International Business (USCIB) as National Guaranteeing Association (NGA) for ATA Carnets in the United States.  Boomerang Carnets was appointed a Service Provider to the USCIB in 1987.

Curt E. H. Wilson, CEO and President, boomerang carnets. “From jewelry to aviation equipment, to drones, robotics, film production equipment—all these goods are constantly being put on ATA Carnets for demonstration, exhibition, or sales meetings, generating new revenues from new international market penetration. There are substantial savings from the elimination of the import duty and import tax, the VAT tax, and the avoidance of the additional costs associated with other methods of temporary export documentation.

Declan Daly, Senior Vice President and CFO, U.S. Council for International Business.  “Cash reserves and liquidity have become more important than ever and, as we saw quite recently with the pandemic, those that had them were able to survive and those that didn’t were not.  So, when we look at the tools that we can use as CFOs today to manage our cash flow, the ATA Carnet allows you to avoid having cash unnecessarily deployed overseas as deposits.  By not using an ATA Carnet, you’re increasing the risk of tying up cash overseas in different deposits with foreign customs organizations, and you can have this cash tied up for an extended period of time.  You’re saving yourself huge deposits that you have to outlay if you didn’t go with an ATA Carnet.  Especially if you’re taking a product to many different countries.

Kiel Ursin, ATA Carnet Specialist, boomerang carnets.  “The application process couldn’t be easier it’s an online application and we’re available 24/7 365 to answer any questions.  We walk people through the application process all the time. It’s not expensive and it is a great way to cut down cost for your temporary exports.”

Michael L. Host, CFO & Webinar Consultant, boomerang carnets.  “Why ATA Carnets should be important to CFOs is imperative. With duty and tax deposits in foreign currency you have exchange rate exposure and over time permanent loss on that money.

  They have weighed the benefits of this unique customs document over many years and have come together to share their knowledge and how it can significantly affect your bottom line.  Don’t miss the rare opportunity to hear their presentation.  The next is scheduled for May 18, 2022, 10:00 AM CDT.   Check our “Events” page for future dates.