All importers are required to post security with the Canada Border Services Agency (CBSA) by April 19, 2025, when the Release Prior to Payment (RPP) 180-day transition period ends, using one of the following two options:
- Option 1: a financial security instrument, e.g. RPP bond, for 50% of their highest monthly accounts receivable (inclusive of GST) with a minimum financial security of $5,000 per import program (RM)
- Option 2: cash security deposit for 100% of their highest monthly accounts receivable (inclusive of GST)
Recommendation – obtain a bond for a higher amount than required to avoid costly bond endorsements
(associated with fluctuations in importer security requirements)
Importers who have not yet obtained an RPP bond:
Here’s what you need to do:
To determine your Financial Security requirements, log into the CARM Portal and follow the following 3 steps:
- Go to the Financial security page (Home or Menu – Financial information – Financial security) to view your Financial security dashboard.
- The first item listed on the Financial security dashboard displays your Financial security overview, which includes the following:
- Total security required: how much financial security you need for your account
- Current security coverage: how much financial security you have
- Contact your Universal Logistics Client Care Representative to assist with securing your RPP bond.
Importers who have already secured their RPP bond with CBSA:
Here is what you need to do:
Ensure you have the required coverage – log into the CARM Portal to review your current security coverage ahead of the April 19, 2025 deadline and follow the 3 steps outlined above.
The CARM system uses a nudging framework to encourage real-time compliance with financial security requirements. The nudging framework is used for RPP importers only. When an RPP importer’s financial security utilization is approaching (for example, greater than 75%) or over capacity (greater than 100%), the CARM system will nudge the importer to either increase the financial security posted or post-payment to reduce the account balance.
During the current 180-day RPP transition period, these ‘nudges’ or financial security notifications are for information purposes only, reminding importers to post the applicable financial security before the end of the 180-day transition period to continue benefiting from the RPP privilege.
Universal has secured very competitive RPP Bond rates with our Surety. To take advantage of these rates please contact your Client Care representative or Mark Glionna, Vice President—Client Relations & Business Development.
