Freight updates November 16, 2022: latest news and updates on the worldwide supply chain
The worldwide supply chain is constantly changing. Now, as we continue dealing with the fallout of pandemic-related supply chain issues, fluctuations in prices, labour disruptions, delays, and port congestion persist. These updates will share some of the latest freight news, so we can keep you abreast of the dynamic.
Valuation of goods: know what's included to ensure accurate reporting
The reality of being audited as an importer is not one to dismiss or think only happens to “other importers.” In the event you are audited by CBSA, are you aware of everything that is included in the valuation of your goods? If not, you may not be reporting additional costs accurately.
Use Incoterms? Avoid these common problems
A common issue seen by our freight team is importers not knowing their terms of sale, and therefore not using the correct Incoterm. Knowing where your responsibility lies, along with proper training on Incoterms, will help make your goods move that much more smoothly, something especially helpful when space issues are.
Single Window Initiative (SWI): Survival Guide for Health Canada (HC) Donor Semen
The new SWI landscape The Single Window Initiative means several changes for importers:
Supply chain and your FTA: do your goods qualify?
It's always a good idea to regularly check in with your vendors to make sure your goods still qualify for the applicable Free Trade Agreement (FTA).
Considering nearshoring? Here's what you need to know.
If your supply chain operations have been impacted over the past two and a half years, you may be contemplating shifting your operations to nearshoring. But is this the right step for your company?
Single Window Initiative (SWI) - Survival Guide for Radiation Emitting Devices
The new SWI landscape The Single Window Initiative means several changes for importers:
Reminder: File transfer pricing adjustments early
A reminder to file transfer pricing adjustments as soon as possible after your fiscal year-end.
CBSA Verification Priorities: July 2022
Are your goods on it? The Canada Border Services Agency (CBSA) targets specific industries and products for extra attention at the border to ensure importers are compliant with requirements for tariff classification, product valuation and country of origin.
