SURETY BOND
Why is a Surety Bond Important?
A surety bond provides financial security to the Canada Border Services Agency (CBSA) for the payment of duties, taxes, and other applicable charges. It ensures that importers meet their financial obligations, minimizing risks and delays in the import process.
Why Act Now?
Avoid Delays: Processing surety bonds can take time. Applying well before the deadline ensures you have the necessary coverage in place.
Compliance: Failure to have a valid surety bond can result in shipment delays, penalties, and potential disruptions to your supply chain.
Upcoming Deadlines: With the April 19, 2025 deadline approaching, we anticipate an increase in demand for surety bonds, which could further extend processing times.
What You Need to Do:
Assess Your Needs: Determine the appropriate bond amount based on your import volume and estimated duties and taxes.
Contact SJK Global: Reach out to SJK Global team to initiate the application process, as we are working with a surety bond provider to submit your surety bond electronically to CBSA in a streamlined way.
Provide Necessary Documentation: Ensure you have all required documentation, including financial statements and business information, readily available.
Submit Your Application: Promptly submit your completed application to your surety provider.
SJK Global Support:
We understand that navigating the surety bond process can be complex. Our team is available to assist you with:
Providing guidance on determining the appropriate bond amount.
Answering your questions about the application process.
Offering support in ensuring compliance with CBSA requirements.
