If I use a customs broker to import goods, why am I required to post my own financial security?

Posting financial security in the form of a financial security agreement (e.g., customs bond) or a cash deposit is required to enrol and benefit from the Release Prior to Payment (RPP) program. Currently, a customs broker may use their own RPP security to release your goods prior to payment of duties and taxes. However, starting Release 3, the Canada Border Services Agency (CBSA) will require commercial importers to obtain their own RPP security to take advantage of this benefit.

This means that starting Release 3, if you don’t have your own RPP:

• Your imported goods may experience clearance delays or roadblocks under the new requirements.

• Your customs brokers won’t be able to process the release of your imported goods electronically (EDI) and a manual/paper release request would need to be performed directly at the local CBSA office (i.e., manual/paper release request).

• You would also be required to pay the CBSA directly for any applicable duties and/or taxes on your imported goods to obtain the release.

The CBSA has developed a transition plan. See plan and timelines.