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Trip Paperwork Covers all documentation, carnets, customs and country requirements, how to deal with insurance etc.
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  #1  
Old 19 Aug 2005
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carnet premium
Hi All,

Can anyone confirm the "premium" that you must pay to the RAC to cover the bike in Iran, Pakistan, India etc. I know it is worked out on 500% of the bikes value. I thought that the premium was about 3%. (eg £4,000 * 500% at 3% = £600). Can anyone confirm this? The RAC information I have is showing 10%!

I have tried calling the RAC but Paul G is on holiday.
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  #2  
Old 19 Aug 2005
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I believe 10% is correct of which you'll get 5% back when you return the carnet.
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  #3  
Old 20 Aug 2005
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I just got my carnet from RAC and I've paid 200% of the value of my bike for Middle East covering Iran. In the letter which I got from RAC says excatly like that:

Egypt, India, Pakistan--> 500%
Kenya/Nigeria/Libya/Iran/Middle East/Far East-->200%

So, for Middle East I have paid 200% of my bike and + £120 for administration stuff + £5.5 for IDP.

But you will get the 100% of this amount back (except £125 and IDP) when you bring the bike and the carnet back.

Good Luck

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  #4  
Old 26 Aug 2005
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Our carnets were issued in Australia where it is possible to pay an insurance premium rather than lodge the deposit. The insurance premium is not refundable when you discharge the carnet but in our case....and we have had 2 carnets for travel issued for our bikes now.....it was really the only option that would work for us financially. And dont forget.....down value your bike! Put the value as what you would get for the naked bike if you walked into a bike shop to sell it and wanted to walk out with the cash in your hand. In our case our bikes have done the Aus to UK twice now so are not really worth too much compared to the same bike that was only used on Sundays by a little old lady.........etc.
However....to me.....it is worth more way more than anyone would ever pay for it....we are sort of joined at the hip!
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  #5  
Old 24 Oct 2005
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Sorry to resurect an oldish topic, but does anyone have further info on getting a Carnet off the RAC?

On their website it states that instead of depositing cash with them, you can have your bank guarantee the funds. Is this actually possible, and what are requirements of most banks? Ie, do you need a shed load of money sitting in your bank account, or will having a high credit rating etc satisfy them?
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Old 24 Oct 2005
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I went to HSBC to get an bank guarantee and what they told me is that I have to put the money first which is used for guarantee even I have a decent account on their bank. And they dont allow me to use this money until the guarantee has been cancelled.

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Old 24 Oct 2005
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Yes the bank wants the whole amount before they give you the guarentee, but they will pay interest on it while they have it, unlike when the carnet company holds the same amount of money for the same amount of time.
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Old 28 Oct 2005
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I went to the natwest to talk about them giving the carnet people a guarantee of the amount of my bike's worth x 5 for Iran and they have quoted me £260 for the priveledge of them putting a stamp on the RAC form..if they have to pay out to the carnet people I will have to pay out to the bank..so for the life of me I cant get my head round the costof the stamp which would pay for all accommodation and meals while I'm there anyone been quoted a lower fee from anywhere else
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  #9  
Old 4 Nov 2005
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I believe you can offer assets (i.e your house!) as collateral on a carnet. Not as big a drama as it sounds if you are confident your credit rating would allow you to get a loan to cover the amount if it all went pete tong. The bank just holds the deeds. Mind you, this was in the days when bank managers knew their customers and the banks gave a toss!!!

This, of course, is why I drive an old shed!!

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