Carnet applicant must provide security to the Chamber. The security amount is solely determined by the Chamber, which is based on the market value and the nature of the goods, and countries to be visited, etc.
Normally, the security level is set at 100% market value of the goods, minimum HK$5,000. Forms of security acceptable are bank guarantee, insurance company guarantee*, banker’s draft or cash deposit (HK$10,000 max.)
* The insurance company must be a member of the Chamber and a licensed insurer under the Insurance Companies Ordinance (Cap. 41) to carry on suretyship insurance business.
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