The Canada Border Services Agency (CBSA) carries out regular verifications (audits) of import activities in order to ensure compliance with requirements for tariff classification, product valuation and country of origin.
When importing commercial merchandise into the U.S. worth more than $2,500, the importer must post a U.S. 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.
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.