The U.S. national guaranteeing association for carnets requires that all U.S. ATA Carnets be financially secured.
The requirements are 40% of the value of the General List for general products. For vehicles, 100% for Corporation and 150% for individuals. For India, it is 55%.
Surety bond is the most common option to fulfill the standard security deposit requirement of 40%. The applicant will pay a 1% non-refundable premium for the surety bond.
Surety bond is not insurance. It guarantees payment of duties and taxes to customs if you, the carnet holder and principal on the bond, are not able to fulfill your obligations under the terms of the carnet and carnet bond.
You may be requested to supply financial information such as a tax return or financial statement to satisfy the underwriting requirements of the surety company after you submit your carnet and bond application.