Important Changes to ISF Regulations, Proposed Rule

As the Canada Border Services Agency (CBSA) prepares for the upcoming CARM Release 3 (R3) on October 21, 2024, two important notices have been issued to guide businesses through this transition. These notices outline key measures and processes impacting trade operations and compliance. Customs Notice 24-27- Transition Measures for CARM R3 Customs Notice 24-27 details the transition measures that will be implemented with CARM R3. These measures are designed to ensure continued border fluidity and the timely submission of accounting information and payment of duties and taxes. Importers should take note of the Release to Prior Payment (RPP) financial security […]

By Matt Zehner, VP, Surety Information & Analysis, Roanoke Insurance Group Inc. Recently, my colleague Colleen introduced Tariffs and Bond Stacking Liability and the need for importers to monitor bond sufficiency on a regular basis, with the goal to avoid a short-notice demand from CBP to terminate and file a larger bond.  One significant reason to planning the timing of when to make use of a larger continuous bond is that by reducing the number of times the bond amount changes over time, the bond principal is able to minimize the accumulation of bond liability.  There are ancillary benefits to importers when […]

By Glenn Patton, Managing Director, Roanoke Insurance Group Canada, Inc.   The following are several important issues regarding the insurance industry and regulatory changes that impact freight brokers and forwarders. With so many Canadian freight brokers and forwarders conducting cross-border business, U.S. regulatory changes affect the entire industry. Nuclear verdicts in liability cases in the U.S. involving motor carriers have included freight brokers. Nuclear verdicts against trucking companies in the U.S. have reached tens and hundreds of millions of dollars in the past decade or so. In their lawsuits, plaintiffs in accidents with motor carriers have named all parties involved […]