CARM stands for CBSA Assessment and Revenue Management. This multi-year initiative aims to upgrade and digitally transform the current importing process.
Once implemented, CARM will provide importers with access to their customs activities and trade information, including account balances, self-service access to their information, and tools to simplify the overall importing process.
CARM will shift liability from the broker to the importer.
CARM will be rolled out in phases. In Phase I importers will have the ability to get set-up on the CARM PORTAL. In Phase II importers will have the ability to manage their accounts in addition to other functionality (e.g. Tariff tools, Rulings, Adjustments, etc.)
Once CARM is implemented (approx. Jan 2023), importers will be required to post security in the form of a surety bond/cash deposit, in order to get their shipments released. Importers will no longer be allowed to use their customs broker’s security to participate in release prior to payment (RPP).
The minimum bond amount has been set at $25K. The existing bond cap of $10M will remain in place.
Security may be posted in the following ways:
A cash bond – Importers will be required to post a cash deposit for 100% of their highest monthly accounts receivable (AR).
A (continual) surety bond – Importers will be required to post their own financial security (via either a surety bond or CBSA cash deposit) to obtain release of their goods prior to accounting and payment of any applicable duties and taxes with the CBSA.
A one-time single-entry bond
Without RPP security, an importer will be required to pay in advance on the CARM Client Portal (CCP) or pay a CBSA cashier at the time of clearance, in order for the goods to be released by CBSA.
Please follow our weekly and standalone newsflashes as we will be providing CARM updates through this communication.
The following links provide additional details that you should familiarize yourself with.
CARM: CBSA Assessment and Revenue Management project
CARM is coming – Are you prepared
Features and benefits of the CBSA Assessment and Revenue Management initiative