New requirements and increased enforcement. But there are benefits.
More Laws, More Regulations, More Complexity
The pace of new and changing Customs-related laws and regulations continues: The era since 9/11 has seen more activity in this regard than any other in U.S. or Canadian history. Maintaining compliance in the face of such complexity has never been so challenging.
If your company imports or exports goods, you are on Customs' radar. Regardless of your revenues or geographic location. So if you are concerned about whether you're meeting all your customs liabilities and obligations, you're not alone. In a recent survey, one-third of respondents noted that ongoing risks related to trade and customs, export/import issues and legal/regulatory compliance are high priority areas for their businesses.
Increased Enforcement, at the Border and in Your Offices
Both Canadian and U.S. governments have also increased the number of Customs officers at border points, and for corporate verifications both behind the scenes and on-site. With more staff, new screening technologies, enhanced intelligence networks, and electronic data Customs has increased its capacity to examine shipments and conduct compliance verifications and audits.
For companies of all sizes, ensuring compliance and avoiding escalating penalties and sanctions is knowledge and resource intensive.
Good Compliance Helps Improve Supply Chain Visibility
Companies who are paying more attention to compliance say it complements their recent decisions to place greater emphasis on supply chain visibility. (Studies that show greater supply chain visibility helps lower costs by providing greater control over transportation and logistics activities.)
And Opens the Door to Restricted Customs Programs
A good compliance record can lead to tangible benefits beyond the benefits of a well-run operation and penalty prevention. It provides access to restricted Customs programs. Certification or membership in these programs offer benefits ranging from faster release and fewer inspections to simplified reporting and self-conducted compliance verifications.
The results are lower freight and product costs, predictably reduced transit time, and significantly improved supply chain visibility.
How MSR Customs Can Help
In record time, MSR Customs technologies, services and knowledge add efficiencies, increase security and compliance, and save money. Services are delivered by our customs professionals, business process experts, and systems specialists. Clients find the results self-sustaining, and self-funding.
With 35 years of experience with U.S. and Canadian Customs regulatory compliance, professional services include:
- Voluntary disclosures.
- Penalty redress and relief.
- Import and export compliance reviews and risk assessment.
- Customs audit assistance and representation before customs authorities.
- Process improvement design and implementation.
- Implementation of systems and technology solutions.