With Release 2 on the horizon for the CARM initiative, Canadian importers must secure their own D120 Customs Bond. This will be required for importers wishing to participate in the Release Prior To Payment Privilege (RPP). Take advantage of TRG's years of expertise in Customs Bonds and get a quote for your Canadian D120 Customs Bond.
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The requirement for an importer to secure and post their own D120 Customs Bond will only apply to those importers that wish to have access to the Release Prior To Payment Privilege (RPP). So what is this privilege and why would an importer want access to it?
The RPP allows both importers and Customs Brokers to post security with the CBSA to obtain release of goods with deferred accounting and payment privileges. This entitles any importer or Customs Broker who has posted financial security and obtained an account security number to:
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.