At Lease 1 Financial, we stand by our motto: “Helping Your Business Thrive”. We love to network and find more resources and ways to accomplish that goal. We’d like to highlight just one of the many companies we have come to appreciate along our own journey in business.
Clearsmith International is a unique customs brokerage servicing small- to mid-size businesses. Their specialty is helping businesses develop good practices for importing and exporting to save you money and increase your business credibility.
Save Money on Importing
How does Clearsmith International help businesses save money? A complimentary mini audit of your current imports involves a review of your top suppliers and sample import entries from each supplier. Clearsmith will identify opportunities for duty and tax recovery and look for compliance issues.
For example, if goods have been misclassified as dutiable, you might have needlessly paid duty on those items. Or there could be deductions you haven’t been taking advantage of.
Why You Need to Be Careful About Import Compliance
Compliance issues can be costly. Did you know that Canada Customs can audit your customs entries as far back as 4 years? If any compliance issues are found, the importer will be responsible for those corrections and additional charges.
In addition to the expense, this can cause significant delays in your processes. If you are caught with non-compliant product or declarations, Canada Customs may require future shipments to be subject to further scrutiny. This could be in the form of unpacking, examining, then repacking before proceeding. This is inconvenient and can negatively impact your reputation.
Your Business Will Benefit from Clearsmith International
The services Clearsmith International provides benefit businesses that regularly import and export product. However, even if your business is making a one-time cross-border purchase, Clearsmith International can ensure that shipment happens smoothly and without costly surprises.
If you have any questions about importing or exporting goods to and from Canada, Marci Kobe at Clearsmith International is the one you want to talk to. Contact her today at Clearsmith International or call 1-877-648-5010.