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CARM – Understanding the New Financial Security Requirements

CARM – Understanding the New Financial Security Requirements

Contact us for the dates and price of this customized training session.

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Overall Objective

In this training session, W2C covers in depth the obligation to file a financial security with the CBSA (before October 2023), the reasons why the agency has imposed this requirement and the options available to you to meet this new CARM requirement.

Duration

1.5 Hours

Cost

$45.00

N/A

The CBSA Assessment and Revenue Management (CARM) initiative has completely transformed the way the CBSA manages the import of commercial goods into Canada and the way the agency interacts with importers and customs brokers. One of the changes brought about by CARM requires each importer to file their own financial security with the CBSA in order to continue to receive Release Prior to Payment (RPP) privileges. In addition to registering your company on the CARM online portal, this requirement to post financial security is one of the most important changes that will affect your importing activities in the future.

Using real-life examples, our customs expert will cover the following topics:

  • What is the Release Prior to Payment (RPP) privilege?
  • How is CARM changing this privilege?
  • How can importers post financial security with the CBSA?
  • Understanding the differences between the two main financial security options
  • How to calculate the importer’s security coverage?
  • What happens if your company does not file financial security with the CBSA?
  • Under CARM, the CBSA will monitor your security level. What does this mean?
  • How can you prepare in advance for the financial security requirement so as to avoid the anticipated bottleneck in the fall of 2023?
  • Where do I get a Customs bond and when should I get it?
Who can benefit from this training?
  • Buyers
  • Logistics and transport officers
  • Import-export assistants
  • Company representatives
  • Accounting employees
  • Sales employees
  • Department managers
  • Business owners
  • Anyone interested in customs activities
Specific objectives
  • Understand the financial security requirement and what options are available to you
  • Know when this security will be required
  • Calculate the amount to be secured for your company or companies
  • Recognize the impact on your import flows if you are too late in filing
  • Transition to this new CARM requirement

Participants in our training programs will receive a handy reference booklet.
Please note that customized training or coaching is also available upon request.

For more information, call : 1.514.368.2637 x112

our instructors

Marc Ticehurst

Customs and Trade Policy Advisor

With over 25 years of experience in customs brokerage, transportation and logistics, Marc has acquired a solid expertise in improving logistics and customs performance for Canadian importers and exporters. Customer relationship management, consulting and business development are subjects that fascinate him.

His in-depth knowledge of customs rules and programs and international agreements make Marc a valuable advisor to all W2C clients.

Our CARM Trainings

CARM – Importer Obligations

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