What is a Carnet?
A Carnet is an international customs document issued by The Chamber of Commerce.
The purpose of the Carnet is to allow the holder upon lodging a guarantee in the United Kingdom, to temporarily import their goods free of customs duties, taxes etc, into any of the countries that are members of the Carnet scheme.
The goods that can be covered by a Carnet fall into three categories. These are:
Professional Equipment, Commercial Samples and International Trade Fair/ Exhibition. All the items to be listed on a Carnet must have had UK duty paid on them. If you are unsure please email us for clarification at Carnets@CopsDocs.co.uk
Once issued a Carnet is valid for one year and can be used for a single destination trip or to various destinations. Wherever the Carnet is issued for it must always be returned before the expiry date of the Carnet.
Is a Carnet a legal requirement?
No, there are many methods of temporarily importing goods into foreign countries. These may involve using agents overseas, duty on deposit or bank Guarantees. This process can be expensive and would certainly take a much longer time at both import and export than when using a Carnet.
The Guarantee
When a Carnet is issued, the holder of the Carnet must provide the Chamber with a Guarantee. This Guarantee is for an amount equal to the highest rate of duty and taxes applicable in the countries for which the Carnet is being issued.
If any of the goods covered by the Carnet remain in a foreign country, or the conditions of use are breached in any way, foreign customs will levy charges for which the holder of the Carnet will be liable. If The Chamber of Commerce is unable to retrieve payment from the holder then the Guarantee will be invoked.
COPS DOCS Limited have a "rolling" Guarantee already lodged with the Chamber of Commerce which the majority of our clients prefer to use. We charge a premium for this based on the value of the goods, the countries being visited and the legnth of time for which you will be using the Carnet. Please email us with this information and we will be happy to give you a quote. Carnets@CopsDocs.co.uk
Alternatively you can arrange your own Guarantee in one of the following ways:
- A deposit in the form of a bankers draft or cash
- A Guarantee from one of the banks approved by the Chamber of Commerce
- A Guarantee from The Chamber of Commerce in House Guarantee Service