EDI: Electronic Data Interchange
EDI (electronic data interchange) is the electronic exchange of business data in a standardized format between trading partners and with customs agencies. It replaces paper-based document exchanges of the past and offers the benefits of lower costs, increased transaction speed, improved accuracy, and smoother.
CBSA’s New Accounting System: Let’s understand this a little better
CARM The Canada Border Services Agency (CBSA)’s Assessment and Revenue Management project (CARM) is a large, multi-year project focused on transforming how the CBSA assesses, collects, manages and reports on import revenue and trade information. Among its goals is the simplification of accounting systems with the.
Is your Canadian customs broker offshoring?
Did you know that some Canadian customs brokers “offshore” specific customs processes to third parties? Are you wondering if your information is being viewed and accessed by a third party in another country? Do you want some information on what this could mean for you? Then read on!
Do you import food into the U.S.? New food safety requirements for importers
On May 30, 2017, the Foreign Supplier Verification Program (FSVP) rule came into effect and applies to most importers of food into the U.S.
Softwood lumber exports slapped with new duties
An investigation by the U.S. Commerce Department concluded this week that Canadian softwood lumber is unfairly subsidized. As a result, the U.S. will levy countervailing duties of up to 24 percent on Canadian lumber exports starting this week.
You and your customs broker: It takes two
Finding the right customs broker is like hiring anyone else to work for your company: you need to ask the right questions to make sure you're teaming up with the right person. There are many customs brokerages willing to work for you. It's up to you to identify the one that will be the best fit – who will work as your.
Incoterms – Providing clarity in International Trade
What are Incoterms? Incoterms (full name: international commercial terms) are standard sets of terms and conditions designed to assist traders when goods are sold and transported. Published by the International Chamber of Commerce, they are intended to clearly communicate the costs and risks associated with the.
Canadian dollar: Devaluation = Increase in exports?
Many exporters are asking: “Why – in spite of our dollar trending so much lower from the days of parity – have we not seen a significant increase in Canadian exports?” There is a widely held perception that a weaker Canadian dollar should make the country’s exports cheaper to foreign buyers, leading to greater demand.
Duty Valuation – What is it?
As an importer of goods into Canada, it’s important to have a basic understanding of the overall import process, along with the rules and regulations that govern it. A key consideration with respect to importing goods into Canada is assessing the proper Duty Valuation (or “value for duty”). The Canada Customs Act.
Why is my shipment held up at the border?
Every day, businesses big and small find themselves facing unanticipated delays at the border. These delays can be a nuisance at best and a supply chain nightmare at worst. They are frustrating, stressful and costly – and they’re also avoidable.
