CARM: What all importers need to know about CARM

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Terminology

S

SIMA, Special Import Measures Act

An act to protect Canadian producers and manufacturers against unfair competition from imports of low-priced dumped or subsidized goods.

Quick 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.

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