CARM Update: Release 2 Implementation Date and $10M Bond Cap Clarification
Trade Update • May 26, 2022
CARM Release 2 Implementation Date
In order to lock down regulations, rules of engagement, and to be sure that onboarding is complete, the CBSA projects that the Go-Live Date (for CARM Release 2) will be 1 of 2 dates in 2023, either May 2023 or October 2023.
In addition, a Release Prior to Payment transition plan is still pending, and will not be forthcoming any time soon.
CARM Release 2 – $10M Cap Clarification
The maximum bond amount of $10M applies to each surety bond secured for each of the RM (BN15) accounts associated with the BN9 business account. For example:
- if a legal entity (BN9) with 5 associated RM accounts currently holds a single bond for $10M covering the total accounts payable across all 5 RM(BN15) accounts, where each individual RM account has an accounts payable in excess of $10M, they can either post 5 individual $10M bonds (one bond per RM (BN15) account) OR;
- they can post one bond for $50M and allocate coverage across all 5 RM accounts. The automatic monitoring of the bond utilization is set at the RM level in CARM.
Please note: a surety customs bond can only be shared within a specific program account. For example:
- an importer with multiple Import RMs can use the same bond to secure all Import RMs, but the same bond cannot also be used to secure a Carrier RM or Customs Broker RM that also falls under the same BN9.
Please consult with your GHY Account Manager if you have questions or need assistance.
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