CARM: Minimum bond requirement

April 12, 2021

We have recently learned from the CBSA that, in Release 2 of CARM, when importers must post a surety bond or cash deposit for release prior to payment privileges, each RM15 must have a minimum $25,000.00 posted for the surety bond option. A BN9 can still post one bond for multiple BN15’s as long as the security reflects that the required $25,000.00 minimum amount is allocated for each BN15.

Carol West, President of the CSCB and David Bosse, Chair of the CSCB Board of Directors have raised our concerns and objections to Goran Vragovic, Director General, CARM Portfolio, Commercial and Trade Branch of the CBSA and asked that the CBSA reconsider their decision. Not only does it contravene the government’s intention with respect to the spirit of CARM, it will add significant costs for importers at a time when trade recovery and financial stability are priorities for Canada.

Topic(s)

CBSA Other

CBSA Assessment and Revenue Management (CARM)

Information source

Canada Border Services Agency (CBSA)

Canadian Society of Customs Brokers (CSCB)

Obtained by CSCB on behalf of members

Disclaimer

The foregoing information is provided for informational purposes only and is not intended as, nor should it be considered, professional advice or a substitute for conducting your own thorough research and review. Before making any decisions or taking any action based on the information provided, you should conduct your own independent investigation and/or seek professional advice from a qualified expert in the relevant field. The CSCB disclaims all liability for actions taken or not taken based on the information provided.

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