Business West has recently introduced a new feature to our website: an ATA Carnet security calculator! It has been live for a couple of weeks, and we have already received great feedback from our customers. So, if you are looking to take your goods abroad anytime soon, give it a try now!
How much does an ATA Carnet cost?
If you are a first-time ATA Carnet applicant, you may not understand all the costs involved in the ATA Carnet process. Overall, an ATA Carnet will save you money when you are temporarily exporting your goods. However, there are some upfront fees to pay when applying for an ATA Carnet.
The two main costs of an ATA Carnet are the issue fee and the security fee:
- The issue fee is a standardised fee which is charged per Carnet. This is £400.00 + VAT for non-members and £230.00 + VAT for members.
- The security fee is separate to the issue fee, and can be calculated using our new online calculator.
What is ATA Carnet security? Why do I need to buy ATA Carnet security?
Business West does not allow ATA Carnets to be issued without security in place.
This is because the Carnet itself provides a guarantee to foreign customs that all duties and taxes will be paid to them if the Carnet conditions are breached. The security is in place to protect Bristol Chamber of Commerce against foreign customs claims in cases where the Carnet has been misused and the holder is unable to settle charges (e.g. due to company liquidation).
Find out more about ATA Carnet security.
What are the ATA Carnet security options?
There are three ways you can choose to arrange your ATA Carnet security. Whichever option you choose must be paid for before the team can release the Carnet to you.
- Aviva guarantee
Customers can choose to purchase a guarantee premium, which is provided by our in-house insurer, Aviva. This is the most popular choice of Carnet security, and can be selected by completing the Aviva proposal form when you are making your Carnet application. This is also the type of security you can calculate using our online calculator. - Refundable deposit
Customers can choose to make a refundable deposit which is held by the Chamber until the risk of a claim has passed. The deposit amount is a percentage of the total goods value. The maximum time frame that we might need to hold the deposit for is 33 months after the Carnet issue date. - Bank guarantee
Customers can choose to arrange Carnet security through their own bank if it is Financial Conduct Authority (FCA) recognised. In these instances, we require the banks to fill out a form providing confirmation of this before we can release the Carnet.
How do you calculate the Carnet security fee?
The price of the security will vary depending on:
- The total goods value
- The type of goods
- Which countries you are taking your goods to
- How long you are taking your goods for
Overall, we recommend that customers purchase their Carnet security via Aviva, as this is the most immediate and straightforward route. You can also estimate how much you will have to pay using our online security calculator before making your application.
Remember to try out the security calculator, and get in touch with the team if you have any questions.
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