CARM (CBSA Assessment and Revenue Management)
CBSA recently established CARM to look into modernizing the collection of duties and taxes for goods imported into Canada. As part of this process they are looking to move to a model more similar to that used in the United States. Currently, customs brokers can lodge a bond with the CBSA to cover payment of duties and taxes for their importers. Once CARM is finalized, each individual importer into Canada will require its own bond.
This is a significant shift for how business is being done and customs brokers are looking at ways to make this process easy for their importer clients.
If you are looking for a solution for your importer clients ahead of the CARM implementation, please reach out to FCA. Together, with our commercial surety partners we have access to a number of solutions including digital solutions that allow the customs broker or importer to apply for these bonds, pay by credit card and renew these bonds all on an online platform. Depending on how many importers you work with, these online solutions can be customized and branded to meet the specific workflows of your business.