Blog Posts

 

The words quota and duty are thrown around a lot when we’re talking about a country’s trade, economy and GDP – and the two are related in that they serve to control the impact on a country of importing goods.

 

…but let’s delve a little deeper.

 

Have you ever worried that you might have missed something when filling out your customs paperwork? As an importer, you know how important it is to accurately declare your goods and back everything up with the correct documentation.

Are your goods getting stuck at the border, and you’re wondering why? Delays at the border can be frustrating, stressful and costly – and they’re also avoidable!

 

Because importers… not their brokers, not their suppliers… are ultimately responsible for customs compliance, sound compliance practices need to be woven into the culture of any company that moves goods across the border.

 

The words tariff and duty are often used interchangeably, but there is a difference in their meaning and usage. In essence: When a government and the economy are mentioned, the word tariff is more commonly used; when the rates and the amount paid or owing are discussed, the word duty is more commonly used.