It is an important decision. Why? Your custom duty exposure and the efficiency of clearing your goods affects:
- Your company’s margins
- Your company’s profitability
- Your company’s dealer satisfaction
- Your company’s competitive position in the market
- Your company’s shareholder satisfaction
- Your company’s share value
- Your company’s future
You depend on your customs broker to classify your goods correctly and to insure you are paying the minimum amount of duty permissible by law.
This is a significant challenge for your company because there are so many SKUs to classify correctly. It’s a big job, especially with SKUs being added every year. Any misclassification or omission can expose your company to penalties and interest, or create duty overpayments which erode your profits and margins and increases your GST .
ALB brings a level of expertise in tariff classification, duty relief provisions and duty reduction mechanisms which is unrivalled in North America. For example, our experts have won more than 30 Canadian International Trade Tribunal (CITT) rulings gaining our clients many millions of dollars in duty relief and refunds.
Many of our clients stem from consulting work done by ALB Consulting Group. These companies are sophisticated importers who relied on big name custom brokers which ended up misclassifying their goods. In each of those instances their previous custom broker as well as the Canada Border Services Agency were proved wrong in their interpretation of the Customs Tariff, which resulted in significant monies being refunded as well as saved going forward. These refunds and savings are often much more than years of their custom brokerage clearance costs.
Who will you pick to help you with your win/loss record? The brightest and the best at a fair price? Or the cheapest?