CARM: What all importers need to know about CARM

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CARM, CBSA Assessment and Revenue Management

CARM is a large, multi-year project to transform how the CBSA assesses, collects, manages and reports on import revenue and trade information. It will replace aging, and non-integrated revenue and cash management systems. CARM is being implemented in phases with Release 1 in effect on May 25, 2021, allowing importers to register in the CARM portal and view their Statement of Account.  Release 2, with mandatory importer registration and financial security requirements, is scheduled for May 2024.

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Quick Tip #57
When Incoterms are incomplete

The shipping term FOB (Free on Board) is incomplete when the port of shipment and country are omitted. Moreover, you could end up paying extra if an incorrect assumption (guess) is made about your port of shipment (many countries have multiple ports of shipment).

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