CARM 103: Basic Principles of CARM Release 2 (R2)

The Canada Border Services Agency (CBSA) continues to accelerate its evolution and modernization through its CBSA Assessment and Revenue Management (CARM) initiative; completely transforming the agency’s import playbook from trade compliance to risk and information management.

On May 25th, 2021, Release 1 launched the CARM Client Portal, facilitating accounting and revenue management processes with the CBSA. All functionalities of the portal will be available as of Release 2 (R2) in 2024.

For more information about CARM, visit our Dedicated CARM Page, CBSA’s website and their FAQ's.

Joined by a special guest panelist from NFP Canada, Delmar’s Customs Brokerage specialists take participants through the basic principles of CARM Release 2 in preparation for 2024. 

Learn About:

• Financial Security
• New Billing Cycles and Accounting Processes
• Bonds

Chris Cheung

Team Lead, Commercial Surety & Marine, NFP Canada

Lorna Butler

Manager, Canada Customs Product Improvement and Regulatory, Delmar

Jo Ann Kairns

Manager, Business Services Brokerage, Delmar

John-Paul Evans

Canadian Customs Brokerage Consultant of Advisory Services, Delmar

Marisa Pavan

Canadian Customs Brokerage Manager of Post Entry & Advisory Services, Delmar

As a leading Canadian customs broker, Delmar has been proven successful in collaborating with the Canadian government on various customs brokerage initiatives. We continue to work closely with the CBSA in the development of the Commercial Accounting Declaration (CAD) through our involvement in the CAD Technical Working Group.

Through our partnership with the CBSA, our expert panelists cover what upcoming changes you should expect with R2.

 

Some Notable Upcoming Changes with Release 2

• Financial Security - Importers will be required to have a financial security bond, or post a cash deposit, to participate in the Release Prior to Payment program.   
• Billing Cycles - New billing cycles and alignment of payment due dates will address current complexities of revenue management for businesses and the CBSA.
• Commercial Accounting Declaration (CAD) - Serves as the digital document to account for imported goods into Canada, replacing the current B3/B2 forms.