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D120 Customs Bonds facilitate the import process. They are required by the Canada Border Services Agency (CBSA) in order to release shipments before collecting applicable taxes, duties, interest, adjustments, or other fees.
Upcoming CARM Regulations Make D120 Customs Bonds Mandatory
CARM (CBSA Assessment and Revenue Management) is a multi-year initiative to modernize, streamline, and transforms the collection of duties and taxes on imports into Canada. CARM shifts the responsibility of paying customs duties from the Broker to the Importer. As a result, all importers will be required to have a Customs D-120 Bond on file with the CBSA in order to import goods into Canada. This applies to both Canadian importers and NRIs (Non Resident Importers).
D120 Customs Bonds speed up customs clearance by making Release Prior to Payment (RPP) possible. This key provision of CARM allows you to:
DB Schenker can help you set up an Annual/Continuous D120 Customs Bond
A Continuous D120 Canadian Customs Bond covers your imports for an entire 12-month period. An annual bond also allows you to get into CARM compliance before the deadline, so you can avoid last-minute complications. We’ll get you bonded quickly, painlessly, and without hidden fees of any kind.
Online ordering makes it even easier to get a Canadian Customs Bond:
That’s it — we handle the rest! If you choose a one-year $25K bond, you will be able to purchase your bond instantly online. If you need a larger bond, simply complete the application and we’ll get you a quote in two business days or less.
Contact one of our Customs Bonds experts by clicking here or call us at + 1 (844) 724 8723 M-F 8-5 p.m. ET.
Why get your Continuous Customs Bond from DB Schenker?
As one of the largest Customs Bond providers in North America, DB Schenker Trade Solutions deals directly with top-rated Surety Companies to get you the right bond at the best price:
We can also help you with the following (click a link below to request more info):
Additional Canadian Customs Bonds:
Non-Resident Importers (NRIs) that import more than $30,000 CAD in goods into Canada annually may benefit from a GST Bond. Registering a GST Bond with the Canadian Revenue Agency (CRA) allows you to receive GST credits via the Input Tax Credit, and makes it easier for your customers in Canada to do business with you.
DB Schenker has over 140 years of trade experience. As one of the largest Customs Bond providers in North America, we deal directly with A+ Surety Companies. We make it easy to get the right GST Bond at the best price.
Questions? Click here to request more information about GST Bonds
If you are a highway carrier transporting bonded goods into Canada, you will need a D120 Customs Bond in conjunction with a Highway Carrier Code BSF329-7 application, in order to transport goods within Canada. Though a single trip authorization can be used, we recommend procuring an annual D120 Bond for two reasons:
Questions? Click here to request more information about D120 Highway Carrier Bonds.