CARM Bonds & RPP Surety Bonds
Keeping your imports rolling in regularly.
We safeguard your business’ future with surety bonds that keep your imports moving efficiently without obstruction. Our surety specialists can help you secure a customs bond to ensure no interruption of service.
Your guide to CARM & RPP bonds.
Canada Border Services Agency (CBSA) has recently implemented CBSA Assessment and Revenue Management (CARM), a multi-year initiative designed to improve the process of importing and redefining its interaction with resident and non-resident importers. Under this project, importers will be required to post their own security bonds/financial securities or cash to maintain their Release Prior to Payment (RPP) privileges.
With the new CARM Client Portal, self service is now an option for importers who will be able to digitally manage their own accounts, delegate authority/access, register for a business number, make payments and more. Getting aligned with CARM now will help you avoid interruptions and delays later.
Supporting businesses across Canada.
Get your surety and bonding solutions through our online application. If you have any questions, get in touch with one of our specialists at carmbonds@acera.ca.
The importance of RPP Bonds.
RPP bonds are a type of surety bond, also referred to as customs bonds. They function as a form of guarantee, similar to an extension of credit. When you purchase one of these bonds, it guarantees the CBSA receives payment on importing fees and duties when commercial goods are brought into Canada.
Continuous Customs Bond
This self-renewing bond is paid annually and guarantees coverage of importing duties for ongoing imports in multiple ports of entry.
A Single-entry Bond
Also known as SEB, covers a single shipment or one import transaction, limited to a specific port of entry. This bond does not renew annually.
How to meet CARM requirements and get your RPP Bond.
Obtaining a customs bond has never been easier with our new digital application process. Follow the steps below to get your customs bond online.
Sign up in the new CARM client portal.
Log into your account and set up a Business Account Manager (BAM) or delegate authority to your customs broker, if applicable.
Complete our online RPP bond application.
Indicate the bond requirement you are applying for ($5,000 – $50,000).
Select your preferred term (length) for the bond.
Pay for the bond using a credit card.
Once we process your application, the bond will be automatically uploaded to your CARM Client Portal. It may take 1-2 business days to appear.
If you are a broking company, require another type of bond or a limit above $50,000, please get in touch with one of our surety specialists.
Why choose Acera for bonding and surety?
Our surety specialists have issuing authority from all the major bonding companies which allows us to issue your bond quickly and easily.
Specialized Expertise
Our dedicated team of experienced surety experts specialize in bonding and bring you in-house underwriting and contract analysis services.
Reducing Your Importing Stress
Our surety team is dedicated to efficient bid bond issuance, allowing you to access your goods quickly and efficiently.
Global Capabilities
Partnering with a vast global network of surety providers, we can provide bonds for anywhere you do business.
Answering your most common questions.
How do the new CARM requirements impact individual importers?
All clients must have an account in the CARM Client Portal, link a user to their business account and delegate authority respectively. (TIP: the first individual who links their account to the business becomes the Business Account Manager or ‘BAM’).
The biggest change for importers is that they are required to obtain a bond (or post cash) for their own duties/GST rather than use their Broker’s Bond. Importers will be required to pay their own duties/GST to CBSA each month by going into the new CARM Portal, downloading their statement and arranging for payment.
What happens if I don’t register with CARM?
Failure to register could lead to shipments not being released by the CBSA. This could lead to financial losses from disrupting your business operations, as well as additional costs for storage, demurrage, moving in bond and driver waiting changes. Register online with CARM today. Once you’re registered, we can help you secure your RPP bond.
How much is a customs bond?
The amount you can expect to pay for your RPP Customs Bond will vary based on your security requirements and the bond value selected. At Acera Insurance, we work with knowledgeable Surety providers to secure exclusive and affordable options for you.
For Bonds valued at $5,000-$25,000:
- 1 yr = $250
- 2 yr = $450
- 3 yr = $600
For Bonds valued at $25,001 – $50,000
- 1 yr = $500
- 2 yr = $750
- 3 yr = $1000
Keep in mind that the bond itself is continuous until either we cancel it for lack of payment or you cancel it if it is no longer needed. We do however sell the bond in “terms” which vary in length and will need to be renewed depending on the term you select.
All premiums are inclusive of taxes and fees and are calculated on the required bond amount.
How fast can I get a customs bond?
At Acera Insurance, we do our very best to secure your bonding needs quickly and effortlessly. Our timeline may vary from 1-2 business days depending on the season and the complexity of the bond request. Generally, it’s a very quick process and we do our best to make it as fast and seamless as possible for you.
What is a continuous customs bond?
A continuous customs bond is a self-renewing bond, which is paid annually and guarantees coverage to pay importing duties for ongoing imports to multiple ports of entry. For importing business with plans to operate for several years to come, a continuous customs bond offers a convenient way to ensure you have the protection you need, without the stress of worrying where or when shipments are arriving at any given moment. Continuous bonds will stay in place indefinitely and can be cancelled at any time.
What is a single-entry customs bond?
A single-entry bond, also known as SEB, is only applicable if your business needs to cover a single shipment or one import transaction. It’s also limited to a specific port of entry. Single-entry bonds do not renew annually, as they are meant for the arrival of one shipment on a set date.
Business insurance insights for your everyday.
-
The most common cyber attacks that residential property managers face
Residential property managers handle private data, move money daily and rely on technology, making them prime targets for cybercrime.
-
Builder’s risk insurance: How to cover soft costs and avoid delays
Picture this: You’re nearing completion on a new mixed-use building when a fire damages most of the upper floors. The…
-
Why $2M is the new minimum for professional liability insurance
Legal fees, delays and contract clauses are pushing E&O limits higher. Learn why $2 million is the smart baseline for…