Sooner or later, your business will be audited by Customs (CBSA) to ensure you have not committed violations that are subject to AMPS (Administrative Monetary Penalty System) penalties.
Make sure you are ready by:
We offer professional customs consulting services to assist you in becoming fully compliant. Remember, investing in compliance is always less costly than paying for non-compliance.
Can't wait until you have enough freight to load a full container? Take advantage of consolidated services to lessen the cost, while maintaining a weekly shipping schedule.
Have a hot rush truck shipment that can't be late? Hire an exclusive load, regardless of the actual shipment size, and have a truck make a freight delivery that is exclusively for you.
Protect your business interests by ensuring you understand what is covered by your cargo insurance policy – and what is not. Without proper insurance, even one loss can have a huge impact on your bottom line.
You can choose from three basic levels of coverage:
Be sure to review the coverage in place for your shipments and ensure it is adequate for your needs.
For more information see our Terminology In Depth section on Cargo Insurance.
Whether you are buying or selling, negotiating favourable commercial terms of sale is the most effective way to cut costs and optimize transit times.
The word "Incoterms" is an abbreviation of International Commercial Terms. Incoterms are the key element of international contracts of sale as they indicate whether the seller or buyer is responsible for:
The wrong term is used almost 30% of the time, resulting in misunderstandings that almost inevitably lead to additional costs, most often for unwanted services.
For more information on Incoterms visit the International Chamber of Commerce's (ICC) website at www.iccwbo.org, and for a complete list of Incoterm definitions including a chart of buyer and seller responsibilities, see Universal's Incoterms 2010.
CREEEPSS is an acronym that stands for Culture, Religion, Education, Economics, Environment, Politics, Social and Special characteristics.
All of these points factor in to how business is done internationally. For example, you should know:
Original Bills of Lading are a good way to ensure immediate payment of your merchandise on shipments where you do not have an established credit arrangement with your client.
However, once proper credit terms have been agreed upon there is very little need for originals. By changing the bill of lading from "original" to "express" you save the costs of international couriers and eliminate potential delays in the delivery of your freight.
Want to see all the Quick Tips? Contact Us to book our Quick Tips Seminar.
Tip #14 – Don't just insure the value of the goods
When insuring your freight, you are fully entitled to value your goods at a price above the base cost. Valuation of goods may include all freight charges, related costs, plus 10% (or more) to cover the administrative burden of processing a claim and to cover the insured's profit. Since duty is still payable on damaged goods, make sure you insure the amount of duty as well.