April 2014: ISF Enforcement Updates

As the Canada Border Services Agency (CBSA) prepares for the upcoming CARM Release 3 (R3) on October 21, 2024, two important notices have been issued to guide businesses through this transition. These notices outline key measures and processes impacting trade operations and compliance. Customs Notice 24-27- Transition Measures for CARM R3 Customs Notice 24-27 details the transition measures that will be implemented with CARM R3. These measures are designed to ensure continued border fluidity and the timely submission of accounting information and payment of duties and taxes. Importers should take note of the Release to Prior Payment (RPP) financial security […]

Written by Colleen Clarke, SVP, Surety Trade Relations and Business Development Driven by the onset of the trade remedy tariffs in Spring 2018, duties owed on imported goods more than doubled and continue to grow, especially due to by additional duties on goods imported from China. A Surge in Duties, Taxes, and Fees According to Customs and Border Protection’s (CBP) Trade Statistics, the total amount of duties, taxes and fees collected in FY 2023 was $92.3 billion.  This was a 17.46% decrease from FY 2022, however the amount of duties, taxes and fees increased over 220% compared to FY 2018.  […]

  eBond is the fastest customs bond filing system ever, and it’s about to be even faster and easier. The Road to eBond Customs bonds used to be issued on typewriters. Across the country entry writers for customs brokers would hammer out importer information onto green, pink, and yellow sheets of carbon paper, and these paper pages were delivered by messenger or mail to the CBP office at the local port. There the bonds waited for their Customs Control Number stamp and delivery back to the broker or agent. Then in the 2000’s, the bond filing process went digital. Processing […]