The Canadian Border Services Agency (CBSA) undertakes trade compliance verifications (audits) to ensure their requirements are being met and the correct duty collected. Audits are conducted both randomly and by identifying goods of interest through targeted verifications.
Challenging times continue for the container shipping industry, seven months after it was rocked by the sudden bankruptcy of South Korean shipping giant Hanjin.
Following Hanjin’s collapse last summer, shippers and forwarders have been increasingly concerned about the reliability of the carriers they use.
Shipping industry crunch
Times are tough for the container shipping industry: companies are facing their worst ever downturn as a result of an oversupply of ships and weakened global demand. As a result, firms are looking for more and more ways to cut costs.
What is SIMA?
One of the functions of the Canada Border Services Agency (CBSA) is to help protect Canadian producers from unfair foreign competition. In this spirit, the Special Import Measures Act (SIMA) helps protect Canadian industry from the unfair subsidizing and dumping of imported goods. CBSA and the Canadian International Trade Tribunal (CITT) are jointly responsible for administering SIMA.
The world’s busiest shipping port in Shanghai, China is experiencing severe congestion in recent weeks. High volume, weather and industry realignment are causing delays affecting numerous companies worldwide.
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 per cent on Canadian lumber exports starting this week.
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 partner to understand your business and meet your needs.
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 transportation and delivery of goods. The Incoterms rules are used by buyers and sellers worldwide for the interpretation of the most commonly used terms in international trade.
What is it?
Importer Self-Assessment is a U.S. Customs and Border Protection (CBP) program that offers qualified U.S. importers exemptions from certain security inspections and comprehensive audits, as well as expedited cargo release services.
Started in 2002, the ISA program is based on the premise that importers with strong internal controls achieve the highest level of compliance with Customs laws and regulations. The ISA program provides a means to recognize and support such importers, while allowing U.S. Customs to direct their efforts to high-risk and unknown importers.