In this webinar, Trade Risk Guaranty provides an introduction to the Canadian Customs Bond to help importers be prepared for the upcoming changes.
Canada Border Services Agency (CBSA) has been working toward a goal of modernizing the Canadian import process for the past few years. This initiative is known as CARM, which stands for CBSA Assessment and Revenue Management. As of Spring 2021, CARM Release 1 went into effect which allowed Canadian importers to sign up for the CARM Client Portal (CCP). However, another release is coming soon! This one will make it mandatory for importers to secure their own Release of Goods Bond (colloquially known as the Canadian Customs Bond).
In our recent webinar, TRG went over an introduction to the Canadian Customs Bond. This webinar is just under 45-minutes and it includes a live Q&A while covering the following topics:
- What is a Canadian Customs Bond?
- How to Calculate Your Canadian Customs Bond Amount
- When to Place a Canadian Customs Bond
While there are still some unknown factors when it comes to the bond, TRG discusses what we know and how to best prepare for what we do not know. This includes forecasting the amount of duties and taxes that will be paid to CBSA in the upcoming year in order to ensure your bond stay sufficient and preparing yourself for any claims that might arise during the import process.
TRG’s National Sales Manager, Travis Smith, also goes further into depth on the process of getting a bond in place and when you should get that process started.
If you have any questions after the webinar, feel free to leave a comment on our YouTube channel or send us an email at email@example.com.
Watch the Full Webinar for an Introduction to Canadian Customs Bonds
Watch the full webinar below for an introduction and to hear the Q&A that occurred during the live session.