International trade is an interesting subject. If you are keen on starting an importing business in Canada, the first step is to understand the rules, regulations and compliance needs. You need to pay duties and taxes as applicable to the Canadian Border Services Agency (CBSA) and other government bodies, and all related documentation should be in place. The idea is to get the shipment cleared from the customs as soon as possible, so that you can continue with your business. Most known Canadian importers prefer to work with customs brokers, such as Clearit, for various reasons. In this post, we are underlining the relevance of customs brokers.
What does a customs broker do?
You can always fight your own legal matter in the court, but why do you hire a lawyer? The obvious answer is expertise, and that’s exactly why customs brokers are handy for importers. All customs brokers are licensed by Canadian Border Services Agency (CBSA), and they work with clients (read importers and exporters), to offer them help on various matters. From clearing goods by transmitting necessary details electronically to CBSA, to assisting with risk management, they do it all. Truth be told, import regulations change with time, and trade agreements are often too complex. As an importer, you would want to focus on your company and operations, and with a customs broker, you can do that, as their team will take care of everything else.
Reviewing the role of customs brokers
One of the prime reasons to hire a customs broker is compliance. You want to be sure that your business operations are in sync with both CBSA and other governmental bodies. A customs broker will ensure that all duties, taxes are paid, documentation is done on time, custom regulations are followed without any misses, and goods are cleared at the port of entry without extensive work. The good part is customs brokers work with clients and CBSA electronically, so they don’t necessarily need to have a real office. They can handle all kinds of shipments – truck, air, ocean and courier.
More than just basics
Beyond the obvious, customs brokers can help with audits and non-resident importing, as well. Customs declarations are often complex, and applying necessary tariffs may not be easy, but you can avoid the expensive mistakes that lead to delays, fines and penalties by working with a licensed customs broker. Not to forget, they can help in offering guidance on how to expand your business globally.