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CARM: What all importers need to know about CARM

Terminology

C

Cargo Insurance

A type of insurance policy that protects a buyer or seller against the risks of loss or damage to goods in transit via any mode of transportation – sea, rail, road or air.

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Quick Tip #58
Be prepared for customs penalties and fines under AMPS

Never assume that the absence of an audit means you will never be audited.  Penalties under AMPS (Administrative Monetary Penalty System) can be applied at the border at time of import (or export) and also post audit.

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101 Logistics Quick Tips

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