What is a Carnet & why use one?
A carnet is an international Custom’s document that is used to temporarily import certain goods into a country without having to engage in the Customs formalities usually required for the importation of goods, and without having to pay duty on the goods. It is valid for one year from the date of its issuance. It is accepted in more than 87 countries. An ATA carnet holder is obligated to present the goods and carnet to Customs and Border Protection (CBP) to prove exportation. Failure to prove exportation on either a TIB or a carnet subjects the importer to liquidated damages equal to 110 percent of the duty and import tax.
