Industry News

Courtney Agencies Ltd. provides a weekly industry news update to its clients.

Please click here to receive this update by email.





Customs &
Trade News

May 7, 2018

Reminder: CBSA credits importers' accounts instead of issuing refund cheques

The Canada Border Services Agency (CBSA) uses account off-setting, which means a disbursement is not issued for any credit amount if there is an outstanding debt on the client's account. All credit amounts owing to an importer are applied against debt on the client's account at the end of the payment period and before a Statement of Account is issued, reducing the total amount owing.

If after off-setting has occurred, a Customs account shows a credit balance and there is no debt associated with the account, a disbursement may be issued to the importer. However, a disbursement may only be issued if the credit balance exceeds the Agency threshold of $1,000. If it is less than $1,000, the account must have a credit balance for two consecutive months or longer.

Read more at: Disbursements and Off-setting

To allow visibility into account status for importers who do not directly receive a monthly statements of account (SOA) through electronic data interchange (EDI), the CBSA will provide an Importer Account Balance Overview Report. This report details the accounting activity, including open and cleared receivables.

Read more at: Importer Account Balance Overview Report

Source: CBSA


Transport &
Trade News