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.
Importing a Vehicle from the U.S. into Canada
But what’s involved in importing, and how do you know for sure whether the car you’re considering will be allowed across the border? Will that “great deal” still be as good once you factor in all the duties, taxes and other fees to get it here?
Duty relief: Don’t miss a chance to save
What is duty? Duty is a tax paid to the customs authority of the country into which goods are being imported. The amount of duty is usually calculated based on the value of the goods – but can also vary depending on other factors such as quotas, timing, quantity and country of origin.
SWI – the Single Window Initiative Update
The Single Window Initiative (SWI) is a federal government process for collecting information on imports into Canada. Rather than submitting information individually to different government agencies, as in the past, the single window initiative allows importers to provide all required information on imported goods in.
What exactly does a freight forwarder do… and do I need one?
Importing and exporting are key activities for many businesses. But the process, paperwork, and regulations involved in international trade can be very complex – intimidating, even. Many successful international shippers avoid getting bogged down in these logistics by working with a freight forwarder.
Classifying goods for trade – What’s the deal?
Proper tariff classification is the foundation of import and export trade compliance. The Harmonized Commodity Description and Coding System (usually shortened to Harmonized System, or just HS) is the internationally standardized system of classifying traded products. It is applied by over 180 countries and.
Comprehensive and Progressive Trans-Pacific Partnership – update
The Trans-Pacific Partnership, the ambitious trade agreement that nearly happened, was to encompass 12 nations spanning four continents and 800 million people. But when U.S. President Trump pulled that country out of negotiations early last year, the 11 remaining members carried on, eventually forging the.
Customs audits and compliance
Customs verifications (a.k.a. audits) are serious matters, and their impact on a business can be significant. You never know if or when Customs will come calling, but you can conduct your business to be prepared to weather an audit with minimal disruption.
NAFTA update: February, 2018
*USMCA/CUSMA replaced NAFTA on July 1st, 2020. Read More... Canada, the U.S. and Mexico, neighbours who trade more than $1 trillion annually, have been negotiating since August to rework this 24-year-old trade deal between them. But NAFTA talks are moving slowly as Canada and Mexico seek to address a series of radical.
