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Submission: On June 19 via manual from CA — Scanned from CA
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Share this explainer Let's go A quick and not-at-all-alarmist primer on how to prevent even more supply chain disruption. CARM inertia is about to get your imports delayed at the border. explainer Share this explainer Let's go A quick and not-at-all-alarmist primer on how to prevent even more supply chain disruption. CARM inertia is about to get your imports delayed at the border. explainer The launch of CARM is an ideal time to figure out what's current, what's outstanding and what you may not have to pay. It's an arduous process, but help is available. Reconcile your account 4 Surprise! You've been using your customs broker's surety bond all along to secure your imports. Under CARM, you'll need your own bond. Good news! You can get one here. Get a bond 3 Your customs broker needs access to your CARM client portal account; otherwise they can't pay duties and taxes on your behalf. Don't forget this important step. Give your broker access 2 Importers will experience extreme delays and extra expense getting goods into Canada after May 2024 if they don't register for the CARM Client Portal. Register ASAP. Register ASAP 1 4 Actions Every Importer Must Take The launch of CARM is an ideal time to figure out what's current, what's outstanding and what you may not have to pay. It's an arduous process, but help is available. Reconcile your account 4 Surprise! You've been using your customs broker's surety bond all along to secure your imports. Under CARM, you'll need your own bond. Good news! You can get one here. Get a bond 3 Your customs broker needs access to your CARM client portal account; otherwise they can't pay duties and taxes on your behalf. Don't forget this important step. Give your broker access 2 Importers will experience extreme delays and extra expense getting goods into Canada after May 2024 if they don't register for the CARM Client Portal. Register ASAP. Register ASAP 1 4 - Reconcile your account 3 - Get a bond 2 - Give your broker access 1 - Register ASAP Click on tabs below to explore 4 Actions Every Importer Must Take How it affects you Why this is important Toggle to learn more This is NOT a drill If you don't meet CARM's requirements, your imported goods are going to be held at the border (no ifs, ands or buts) until they undergo a full accounting and payments process. That means serious delays. Most importers have yet to meet these requirements and the time window to do so is rapidly closing. Delays at the border mean disappointed customers, angry carrier partners, lost revenue and tarnished business reputation. You will need to gather a healthy volume of your trade data and go through several processes in order to complete your CARM registration - so don't leave it to the last minute. You'll need to get your own surety bond, which can sometimes be a very lengthy and involved process. You can get one with a preferred rate through Livingston's simplified process. You will need to gather a healthy volume of your trade data and go through several processes in order to complete your CARM registration - so don't leave it to the last minute. You'll need to get your own surety bond, which can sometimes be a very lengthy and involved process. You can get one with a preferred rate through Livingston's simplified process. If you don't meet CARM's requirements, your imported goods are going to be held at the border (no ifs, ands or buts) until they undergo a full accounting and payments process. That means serious delays. Most importers have yet to meet these requirements and the time window to do so is rapidly closing. Delays at the border mean disappointed customers, angry carrier partners, lost revenue and tarnished business reputation. How it affects you Why this is important Toggle to learn more This is NOT a drill How you learn about CARM is up to you. We've got a super-detailed FAQ and web page rife with all the relevant technical terms. Orrrrrrr ... ... you can watch the short, fun videos on this page. Totally your call. Choose your own adventure What is CARM? Understanding the CARM Client Portal CARM Customs Bond Requirements Hide Ideally, you should do both by yesterday. If you haven't, you'll need to do both before CARM launches in May 2024. If you don't, your goods are going to be stuck at the border until the full accounting and payments process can be completed. See answer By when do I need to register on the Portal and get a bond? Hide There is. The CBSA requires a minimum bond of $25,000, or 50% of your highest monthly duty/tax bill over the past 12 months (whichever is highest). You can also post a cash deposit for 100% of your highest monthly duty/tax bill over the past 12 months. See answer Is there a minimum bond requirement? Hide Most importers use their customs broker's bond to insure transactions. But once CARM is launched in May 2024, that will no longer be allowed. Each importer must have their own bond. See answer Why didn't the CBSA require me to have a bond until now? Hide The CBSA wants assurance that each importer will pay the duties and taxes owing. A customs bond ensures they will get their money even if the importer defaults on payment. See answer What is a customs bond and why does the CBSA require one? Hide Times will vary by organization. However, Registration can often be complex and time-consuming, requiring importers to obtain a GCkey, answer multiple affinity questions and provide additional details to complete the process. See answer How long does it take to register on the CARM Client Portal? Click to learn more 5 common questions on CARM The CBSA wants to ensure that it's going to get paid duties and taxes owing from each importer. To do this, it requires each importer to provide financial surety. This can come in the form of a customs bond or a cash deposit. Either way, the surety must be posted by the importer, not a third-party, such as a customs broker. Surety Your CARM Client Portal account is YOURS. Just like your bank account. If you plan on having your customs broker pay your duties and taxes on your behalf after May 2024, you will need to give your broker(s) access to the Portal through the Delegation of Authority process. The good news is the CBSA has created a detailed video and web page to help guide you through. Delegation of Authority If you've ever had to report a stolen credit card, you probably know that credit card companies grill you with a number of security questions before they'll even entertain a discussion. The same goes with CARM registration. The CBSA is going to ask a series of affinity questions. These are questions about your transactions with the CBSA. The problem is, for most importers, it's their customs broker who takes care of those transactions, and importers don't have much visibility into them. So you may need to get the answers to the affinity questions from your customs broker. Affinity Questions GC stands for Government of Canada. The GCkey is basically a way for the government to authenticate who you are BEFORE it gives you the option to sign up for the CARM Client Portal. So you have to register for and get your GCkey before you can register for the CARM Client Portal. GCkey Surety Delegation of Authority Affinity Questions GCkey Click to learn more CARM lingo you need to know back to top Download now Download our CARM FAQs to get answers to all your questions (and some you didn't know to ask). Learn more Access webinars, how-to videos and more in-depth resources on the impact of CARM and the actions importers need to take. Click to learn more You've just scratched the surface. Restart Share this explainer 4 Actions Every Importer Must Take 1 2 3 4 Register ASAP Give your broker access Get a bond Reconcile your account Importers will experience extreme delays and extra expense getting goods into Canada after May 2024 if they don't register for the CARM Client Portal. Register ASAP. Your customs broker needs access to your CARM client portal account; otherwise they can't pay duties and taxes on your behalf. Don't forget this important step. Surprise! You've been using your customs broker's surety bond all along to secure your imports. Under CARM, you'll need your own bond. Good news! You can get one here. The launch of CARM is an ideal time to figure out what's current, what's outstanding and what you may not have to pay. It's an arduous process, but help is available. EXPLAINER CARM inertia is about to get your imports delayed at the border. A quick and not-at-all-alarmist primer on how to prevent even more supply chain disruption. 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