October 28, 2024. We are reaching out to inform our clients who import to Canada about the recent notifications sent by the Canada Border Services Agency (CBSA) on October 25 regarding the “Financial Security Requirement Check.” We understand that many of you have received messages indicating insufficient financial security in place, also referred to by CBSA as “nudges.”
CBSA has confirmed that these notifications are informational only during the Release Prior to Payment (RPP) Transition Period. As of October 21, 2024, CBSA has granted all importers with a history of commercial imports within the past four years a 180-day transition period. This allows importers until April 19, 2025, to set up their financial security in the CARM Portal. Full details of the Release Prior to Payment Privilege can be accessed here.
Buckland will soon be launching a new process for obtaining digital bonds in partnership with our surety provider, which will link directly with the CARM Portal. While our surety partner is currently working with CBSA to finalize the connection, we are optimistic that this technology will be available soon. We will send a further update to all clients from canadianimportbonds@buckland.com once the digital bond process is ready. To ensure you receive this important update, please add our email address to your safe sender list.
Thank you for your attention to these developments, and please reach out to us with any questions.