Canadian Customs Broker Blog | Page 43 | Clearit.ca

Import Penalties

Import Penalties & How to Avoid them While it may seem like no big deal to a new company just entering the import business, Incorrectly classifying goods can cause major problems and cost you more money the you might expect. If not spotted on time, these import penalties can compound and lead to even greater loss by overpaid duty that is not recoverable or fines for underpaid Duty. Working with a Customs Broker does not guarantee zero ...

What is a Customs Bond?

One of the most asked about topics this month from our “ask your broker” section has been customs bonds. The following is a short overview as to what a customs bond is and how it can help you. A customs bond is similar to an insurance policy in that it guarantees payment of duties and fees on goods brought into Canada; it may also grantee the customs broker's performance, knowledge and expertise in customs clearance and ensures that regulat...