CSEC Releases Updated eBond Implementation Guide

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 the timing of when to make use of a larger continuous bond is that by reducing the number of times the bond amount changes over time, the bond principal is able to minimize the accumulation of bond liability.  There are ancillary benefits to importers when […]

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 $10,000,000 per RM account. As a reminder, the bond amount will be calculated at 50% of the highest month of duties and taxes (including GST and all debts/accounts receivables) over the previous 12-month period. CBSA cannot keep up with the paper bond filings (we have […]

Many Customs and trade laws carry significant financial consequences for importers, and of these laws, antidumping and countervailing duties pose some of the most dangerous ramifications. These provisions exist to protect domestic industries and producers from unfair foreign competition. Under U.S. law, goods are subject to assessment of “ordinary duties” based on their classification under the Harmonized Tariff Schedule of the United States. However, U.S. law also defines certain situations in which goods are being sold to the U.S. at prices below cost of production or below “fair market value”. This is referred to as “dumping”. Like ADD, CVD is […]