An advance ruling is a legally binding designation of the classification of goods for the purpose of assigning tariffs. Advance rulings are issued by CBSA under the Customs Act and serve to provide clarity by confirming a good’s tariff classification number under the Canadian Customs Tariff.
According to the latest analysis, of Canada’s one million small- and medium-sized businesses, only about 40,000 are exporters - and just 10,000 of those export outside the U.S.
Sure, our big neighbour to the south is our closest and largest trading partner but, given the current climate of uncertainty there – not to mention the massive untapped potential of overseas markets – now may be an ideal time to broaden your customer base.