Athwartships :

ATA Carnet - customs

ATA is the acronym for the combined French and English words “Admission Temporaire/Temporary Admis¬sion.” An ATA Carnet is an international customs document which may be used for the temporary admission of certain goods into 92 participating countries and territories world¬wide in lieu of the usual customs documents and without hav¬ing to pay duties or value-added taxes. The carnet serves as a guarantee against the payment of customs duties and taxes (including VAT) which may become due on goods temporar¬ily imported and not reexported. Carnets also simplify cus¬toms clearance and ensure re-entry into the originating country by acting as a “Certificate of Registration.” While a Carnet acts as a “Merchandise Passport” and replaces the usual customs documents required, export licenses, quotas and visa are enforced where applicable.

This international customs document was established by the World Customs Organization (WCO) in 1961 and re¬placed the ECS (Echantillons Commerciaux/Commercial Samples) Carnet that was created by a 1956 convention sponsored by the Customs Cooperation Council.

The ATA program is administered by national chambers of commerce of participating countries that are affiliated with the Paris-based International Chamber of Commerce (ICC). The United States Council for International Business (US- CIB) is the national guaranteeing association for carnets in the United States. Address: U.S. Council for International Business; 1212 Avenue of the Americas - New York, NY 10036 USA – Tel : [1] (212) 354A480 - Roanoke Trade Services, Inc. has been an ATA Carnet is¬suing office and service provider for the USCIB since 1978. For information, call 1 (800)-CARNETS - International Chamber of Commerce – carnet - TECRO/AIT Carnet

Athwartships - shipping

Across a vessel from side to side

Attendant Accompanying Shipments - shipping

Sometimes attendants accompany cargo ship¬ments as when grooms or veterinarians accompany race horses or other live animals. This service requires advance arrangements with a shipping company or airline

At-The-Money - foreign exchange / finance

A call or put option is at-the- money when the price of the underlying instrument is equivalent or very near to the strike price. See option; call option; put option

Attorn - law

To agree to turn over or transfer money or goods to an individual or legal entity other than the party who was to orig¬inally receive them. A company that has bought out another legal entity may seek an attornment from a supplier who had an outstanding contract with the former entity, and if the sup¬plier attorns, the company can obtain goods on the same terms as were agreed to with the former entity

Attorney-In-Fact – law

A person authorized to transact business generally or to perform a designated task of a nonlegal nature on be¬half of another individual or legal entity. An attorney-in- fact is a type of agent. In many countries, this authority must be conferred by a written power of attorney. If a company buys goods from a foreign firm, for example, and agrees to place sufficient funds for the purchase in an escrow account, the buyer may authorize an attorney-in- fact in that foreign country to disburse the escrow fluids on receiving verification from the buyer that the goods are satisfactory. A business enterprise may also authorize an attorney-in-fact to testify to facts on the company’s behalf in arbitration or legal proceedings held in a foreign coun¬try - agent - agency - power of attorney

Related Links : Athwartships

Athwartships To HOME PAGE

Related Links : Athwartships