CSCB Recommends Suspending Customs Broker Liability
The Canada Border Services Agency should suspend customs liability during the period of deferred customs duties, the Canadian Society of Customs Brokers said in an announcement posted on the Farrow blog. “These are unprecedented times, and the normal and beneficial…
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business practices that underpin the customs broker-client financial relationship now have the potential to negatively impact the intended positive effects of deferral,” it said. “For example, brokers who hold release prior to payment security on behalf of importers may require deposits or payments to mitigate their financial risk.” The CSCB “also requested that there be no claims against importer bonds during this time,” it said. “We believe this gives importers the best chance of benefiting from the government’s decision on deferral in the next three months and beyond, supporting their viability. It also supports customs brokers and the valuable services they provide not only in the context of the accounting and payment process, but for release of goods at a time when trade facilitation is critical to recovery.”