The ATA Carnet vs TIB chart

An Expert's View about ATA Carnet-Temporary Exports in the United States

Posted on: 20 Oct 2011

This is a detailed comparison of the various forms of temporary import methods and their features.

Boomerang Freight? from the USA: A Comparison Promoting, Demonstrating, Performing, Testing, Touring, Repairing or Exhibiting Overseas Note: Not all methods of temporary importation are available in all countries. Foreign Foreign Consumption US Customs Form 4455 Temporary Entry with full Payment US Certificate of Foreign Customs Importation of Duty and Taxes and Carnet Registration Broker?s Entry Bond Under Bond possibility of Duty (CF4455) FEATURES (TIB) Drawback. NO. May be Easily NO. May be difficult to get NO. May be difficult to get YES. d YES. ifficult to get and/or expensive. and/or expensive. Obtained? and/or expensive. NO. The foreign entry is not NO. However payment may be Provides NO. A CF4455 duty or tax-free. A duty deferred if duty and taxes are duty- & tax- must be filed NO. A CF4455 is only for drawback refund may be applied guaranteed by a bond or duty- free entry with and duty-free re-entry to the US of for at a later time. However less deferral for which the foreign into foreign validated by US US origin goods. It doesn?t than 100% of the duty and taxes Customs House Broker (CHB) YES. Customs prior to apply to foreign entries. A will be refunded. A CF4455 will require a fee. A CF4455 countries departure from carnet, TIB or other method must be filed with and validated must be filed and validated by AND duty the US to re-enter must be used for foreign entry. by US Customs prior to US Customs prior to departure free re-entry the US duty-free. departure from the US to reenter from the US to re-enter the US to the US? the US duty-free. duty-free. Entry NO. Import documents documents are NO. Arrangements are made at NO. Arrangements are made at are issued YES. p Not relevant to the CF4455. repared and time of foreign entry and after the time of foreign entry. filed at the time re-exportation. prior to of foreign entry. departure? All fees, security NO. Fees are determined at the deposits and NO. Foreign entry fees are not NO. Fees are determined at the time of foreign premiums NO. Arrangements are made at YES. entry and may calculated and fixed prior to time of foreign entry and after the time of foreign entry. are fixed, depend upon a departure. re-exportation. known and foreign CHB?s paid prior to fees. departure? Created by Corporation for International Business, an ATA Carnet Service Provider for USCIB. www.atacarnet.com - The CIB Carnet HelpLine (800) ATA-2900 This document may not be duplicated, reprinted or distributed without the written consent of an officer of the Corporation for International Business, 325 North Hough Street, 2nd Floor, Barrington, IL 60010. (847) 381-1558, (847) 381-3857 fax Boomerang Freight? from the USA: A Comparison Promoting, Demonstrating, Performing, Testing, Touring, Repairing or Exhibiting Overseas Note: Not all methods of temporary importation are available in all countries. Foreign Foreign Consumption US Customs Form 4455 Temporary Entry with full Payment US Certificate of Foreign Customs Importation of Duty and Taxes and Carnet Registration Broker?s Entry Bond Under Bond possibility of Duty (CF4455) FEATURES (TIB) Drawback. Payment in NO. Local US dollars currency only NO. The fee to issue the for fees, NO. Local currency only unless NO. Local currency only unless unless foreign CF4455 is payable in USD premiums, YES. the foreign customs and the the foreign customs and the customs and the however the foreign entry will foreign CHB will accept USD. foreign CHB will accept USD. duty, tax foreign CHB will likely require local currency. and accept USD. deposits? Convenience and Security NO. A few NO. It is likely that the US YES. countries accept freight forwarder that files the of Payment Payment NO. In a few instances NO. In some instances a credit cards for CF4455 will accept credit cards of Fees, may also be countries will accept a credit foreign CHB may accept a credit payment of TIB or offer terms however only in a made by card for payment of duty and card for payment of services or Deposits, premium and few instances will foreign check or taxes. deposits. Duty or Tax possibly the TIB countries accept a credit card for ACH. by Credit security deposit. payment of duty and taxes. Card? Unlimited use to more than one country for YES. NO. NO. NO. NO. up to a period of one year? Created by Corporation for International Business, an ATA Carnet Service Provider for USCIB. www.atacarnet.com - The CIB Carnet HelpLine (800) ATA-2900 This document may not be duplicated, reprinted or distributed without the written consent of an officer of the Corporation for International Business, 325 North Hough Street, 2nd Floor, Barrington, IL 60010. (847) 381-1558, (847) 381-3857 fax Boomerang Freight? from the USA: A Comparison Promoting, Demonstrating, Performing, Testing, Touring, Repairing or Exhibiting Overseas Note: Not all methods of temporary importation are available in all countries. Foreign Foreign Consumption US Customs Form 4455 Temporary Entry with full Payment US Certificate of Foreign Customs Importation of Duty and Taxes and Carnet Registration Broker?s Entry Bond Under Bond possibility of Duty (CF4455) FEATURES (TIB) Drawback. YES. The TIB secu NO. Duties are not typically rity deposit Full Refund Not may be refunded fully refundable as prescribed by By agreement with the of Duty/Tax upon Not relevant to the CF4455. presentation the terms of drawback. Taxes are relevant to foreign CHB. of documents not usually covered on a duty the carnet. deposit? proving re- drawback application. exportation. Maximum penalty Civil penalty, in allowed addition to all under Carnet An ?automatic penalty? applies duty and tax, Civil penalty, in addition to all Penalties for Convention since most countries refund only varies according duty and tax, varies according to is 10% of the a portion of the duty and tax paid failure to re- Not relevant to the CF4455. to local laws and local laws and regulations if duty and tax where a drawback refund is export? regulations if merchandise is not re-exported. if applied for. merchandise is merchandise not re-exported. is not re- exported. Created by Corporation for International Business, an ATA Carnet Service Provider for USCIB. www.atacarnet.com - The CIB Carnet HelpLine (800) ATA-2900 This document may not be duplicated, reprinted or distributed without the written consent of an officer of the Corporation for International Business, 325 North Hough Street, 2nd Floor, Barrington, IL 60010. (847) 381-1558, (847) 381-3857 fax
Posted: 20 October 2011

See more from ATA Carnet-Temporary Exports in the United States

Expert Views    
The Carnet Application Checklist   By boomerang carnets UK
The ATA Carnet Budget Worksheet   By boomerang carnets UK
The ATA Carnet vs TIB chart   By boomerang carnets UK
Hot Tips    
Export Licenses for Temporary shipments   By ATA Carnet
Latest News    
Supply Chain Logistics News from The Journal of Commerce   By The Journal of Commerce