Cole Blog

How to be a *Gold-Star Importer*

Written by CDN Customs Consulting Dept. - Cole International | Aug 15, 2016 9:17:25 PM
 
Mitigate border delays, penalties, and sleepless nights by being a fully informed, law-abiding citizen.

Why you should try to improve your importing game

Cross-border shipping is an important part of your business and it takes time and attention to ensure you get it right. Fulfilling your customs responsibilities will save you time and money in the long term.

What to consider as an importer

Keep these facts in mind as you conduct your business of importing:
 
  • Importers are responsible for their import declarations, regardless of whether or not they use a Customs Broker.
  • Importers are fully responsible for compliance. Ignorance is no excuse for not abiding by Customs regulations.
  • Internal cross-departmental communication is a must (among systems and humans).
  • Just because something has been done a certain way for a long time, it doesn’t make it the right way.
  • Non-compliance can be very costly and can result in up to four years of repercussions (duty and/or interest, plus penalty) and sometimes longer.

Here are some suggestions to keep you on the up and up:

 
  1. Keep on top of regulatory changes and be prepared to adjust procedures as needed to remain compliant.
  2. Don’t make assumptions. Ask questions.
  3. Keep track of your imports for their entire life cycle from procurement to payment.
  4. Understand what can trip up importers  with respect to customs compliance in these key areas:
    1. Valuation – There’s often more than one invoice (and/or debits and credits) in a transaction. Disclose them all.
    2. Tariff classification – Insufficient  product details can lead to errors in  classification.
    3. Origin – Make sure you aren’t using preferential tariff treatment without a certificate or proof of origin on file.
  5. Engage in regular customs compliance reviews. The benefits will outweigh the costs.

Chat with an expert

Finally, consider engaging in a partnership that keeps you focused on what you do best: serve your customers. Our Trade Consulting department is ready to take care of the rest. For more information...
 
 
Information provided by: Canadian Customs Consulting Dept. - Cole International