Canadian and US Customs officials perform compliance audits to determine a company's risk level and issue monetary penalties for non-compliance. These audits are comprehensive and detailed. Focusing on business systems, corporate policies & procedures and internal controls in addition to import data declared at time of release and accounting. Customs officials will examine the complete audit trail for selected import transactions from procurement to payment.

For those companies that invest in compliance, the benefits of a positive compliance profile (low-risk) can be measured in a number of ways: reduced exposure to duty and penalties, streamlined release procedures and eligibility to participate in new customs initiatives such as Free and Secure Trade (FAST).

However, importers whom are not up to par will pay the price. The consequences of a low compliance (high risk) profile can result in severe fines issued under AMPS, increased scrutiny at the border, denial or removal from customs programs and increased selectivity for audits.

As independent consultants, TradeSource Plus provides industry leading compliance reviews to ensure your company is prepared for a Customs compliance audit. If areas of non-compliance are identified, we will work with you to improve these areas and reduce or eliminate your exposure to penalties.

Our compliance review includes:

•....On-site interviews with key personnel
•....Business process and systems Review
•....Tariff Classification
•....Valuation
•....Tariff Treatment (NAFTA)
•....Duty Deferral Programs
•....Record Keeping

Upon completion of our review we provide you with a Customs & Trade Compliance Report identifying compliance levels and areas of concern. The report will include detailed recommendations that can be implemented to tighten internal controls and improve compliance. Additionally, we will notify you of any duty reduction opportunities that you are not currently taking advantage of.