Customs Bonds

By: Dennis Gates, Regional Vice President Northeast Region The announcement of potential tariffs has sparked concern across industries. In November 2024, the U.S. President-elect proposed a 25% tariff on imports from Canada and Mexico. This move could significantly disrupt trade, particularly for goods previously duty-free under the U.S.-Mexico-Canada Agreement (USMCA). For importers and their customhouse […]

By Matt Zehner, VP, Surety Information & Analysis, Roanoke Insurance Group Inc. Recently, my colleague Colleen introduced Tariffs and Bond Stacking Liability and the need for importers to monitor bond sufficiency on a regular basis, with the goal to avoid a short-notice demand from CBP to terminate and file a larger bond.  One significant reason to planning […]

By: Lenny Feldman, Managing Partner at Sandler, Travis & Rosenberg, P.A. With the government’s continued emphasis on enforcement, it has become mission-critical for parties engaged in international trade to set their strategic offensive in place through programs such as “regulatory defense. “The administration continues to issue executive actions and regulations that increase trade enforcement by […]

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 […]

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 […]

On March 27th, the CBSA held a Trade Chain Partner Working Group meeting and announced the following changes related to CARM’s Release 2 (“R2”), coming May 13, 2024: The minimum bond amount requirement will change from $25,000 to $5,000 for all importers with the implementation of R2. The maximum bond amount will remain capped at […]