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What is Lost Document Coverage for an ATA Carnet?
What is Lost Document Coverage for an ATA Carnet?
In an increasingly digital world, holding onto a paper document can seem like an antiquated task, and as such has become a much more complicated task than it may seem. If you misplace, damage or have your ATA Carnet stolen, it is necessary to get a Duplicate ATA Carnet. Roanoke offers an product that covers the cost of obtaining a Duplicate ATA Carnet. Not only does this safeguard your original investment, but it ensures a timely and efficient replacement process.
At the time of your initial ATA Carnet application, you are given the opportunity to purchase optional Lost Document Coverage from Roanoke. This $35.00 investment covers you in the event that your original documentation is stolen, lost or damaged. The major benefit of this coverage is that there are no additional or hidden fees, the process of getting a Duplicate ATA Carnet is expedited, and it is shipped directly to you at no cost.
Without the insurance, standard fees apply, which could be anywhere from $225 to $500. In addition to these costly fees, your ATA Carnet could be subject to delays. And as you know, if your ATA Carnet stays in a country past the expiration date, you could be subject to additional fines and fees from foreign customs.
Some things to understand about a Duplicate ATA Carnet:
- Without Lost Document Coverage, Duplicate Carnets are subject to standard basic fees
- A Duplicate Carnet does not change the original 12-month terms
- Duplicate ATA Carnets could take a long time to ship
- Without ATA Carnet documentation you or your customers can not get through customs and will not be able to exit the foreign country or re-enter the United States
On a standard ATA Carnet application, the validity period is 12 months from the date of issue. The expiration date is listed on the green cover, and this date cannot change. Typically, ATA Carnet countries allow temporary imports on a carnet to stay in their economy for any period of time up to this expiration date. As the responsible party for the ATA Carnet, it is your job to adhere to this expiration date even if your original documentation is lost or damaged within the 12 months. Lost Document Carnet Coverage is a flat $35 fee regardless of the value of goods being transported, and when a Duplicate ATA Carnet is needed, all additional charges are waived.
An ATA Carnet is designed to be a simplified and cost-effective solution to moving temporary imports and exports duty-free to one or more countries over the span of a year. By investing in the Lost Document Coverage upfront, you can prevent costly fees and delays from ruining your carefully thought out plans. The nature of an ATA Carnet requires thoughtful planning and ensuring all documents are handled properly throughout the 12-month period, and so it is in your best interest to do everything you can to protect your investment.
Ultimately as a business, it is your decision to make as to whether or not to obtain ATA Carnet Lost Document Coverage for temporary exports, but it’s important to understand the risks associated with not purchasing this time-saving insurance.
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