When importing commercial merchandise into the U.S. worth more than $2,500, the importer must post a customs bond. A customs bond is a contractual agreement between U.S. Customs and Border Protection (CBP), the importer of record and a surety company. The bond serves as a promise to CBP that all duties, taxes and fees due to the federal government will be paid, and that all rules and regulations will be adhered to.
Blog Posts
NAFTA is again in the news as the three parties – Canada, Mexico and the U.S. – have wrapped up a series of meetings and a new agreement could finally be in sight. But only maybe.
Background information on this important agreement and some of the earlier developments in its renegotiation can be found in our last NAFTA update blog. Read on below for the latest.
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/äfˈSHôriNG/
noun
- the practice of basing some of a company's processes or services overseas, so as to take advantage of lower costs.
In today’s fast-paced and ultra-connected world, many companies are offshoring aspects of their business to cut costs. This is all fine and good when those savings are passed on to you, right?
Or is it?
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What are Incoterms?
Published by the International Chamber of Commerce, Incoterms (short for International commercial terms) serve as standards for the uniform interpretation of common contract clauses in international trade.
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The global pharmaceutical market is booming, having grown an estimated 23 percent over the past four years to its current estimated US$10.28 billion value. Shipping and handling of pharmaceutical products is a specialized process that requires care and expertise to ensure product safety and efficacy.
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The IMO – the International Maritime Organization – is an agency of the United Nations that is responsible for the safety and security of shipping, and the prevention of marine pollution by ships.
On January 1, 2020, the IMO is reducing the maximum allowable sulphur content of marine fuels (a.k.a. bunker fuel oil) from the current 3.5% to 0.5%. This is likely to impact the shipping supply chain – with respect to both cost and supply – as the industry prepares to meet the new requirements.
The process of clearing goods through U.S. customs can seem a bit cumbersome and confusing. In this blog, we’ll aim to clarify the legal requirement to use “reasonable care” when importing goods into the U.S.
The Canada Border Services Agency (CBSA) targets specific industries and products for extra attention at the border to ensure importers are compliant with requirements for tariff classification, product valuation and country of origin.
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