Canadian Importers Must Register with CARM
Canadian Importers Must Register with CARM by May 2024
All shippers into Canada will soon be required to have their own Canadian Customs Bond, also known as D-120. The bond amount calculation will be based on an importer’s actual or estimated 12-month history of duties and taxes. The minimum bond amount will be $25,000. CARM is scheduled to release this new requirement in May 2024,however, importers need to register their business and delegate a business account manager in CARM as soon as possible PRIOR to May 2024.
“This is an exciting time in Canada. We are positioned well with Intact Surety being the largest surety provider in Canada to cover the new Canadian bond requirements.” Jason Wieselman, Vice President, International Bond & Marine Brokerage LTD.
Below is a link for latest information from CBSA and to register your business on the CARM Client Portal.
CARM: The new way to assess and pay duties and taxes on imported commercial goods(cbsa-asfc.gc.ca)
We are your home for the Canadian Customs Bond!
Please contact us at bond@Intlbondmarine.com