An ATA Carnet must be guaranteed by an association. In the United States, as an example, the guaranteeing association is the U.S. Council for International Business.

Based upon the simply fact claims can be initiated against ATA Carnets, the U.S. Council for International Business is required to take security to cover the possibility of any such claim. Information concerning claim possibilities are presented in the next segment of The ATA Carnet Infobank.

All ATA Carnet applicants must furnish the U.S. Council for International Business with security. The usual security amount required by the U.S. Council for International Business is 40% of the value.

A security in the amount of 100% of the value is required for ATA Carnets involving goods destined to travel to Israel and the Republic of Korea. No security is required for goods valued under $ 500.00 (except for Israel and the Republic of Korea).

Security can be presented in the form of a certified check or a surety bond. A certified check would be returned at the point the ATA Carnet has been utilized properly and is canceled. The U.S. Council for International Business can hold security for 30 months or until any claim is resolved.

ALMOST ALL security for ATA Carnets is presented in the form of surety bonds.