“Risk comes from not knowing what you’re doing.”
Warren Buffett
Would you go cliff diving without knowing how deep the water is? Of course not!
Exporting to Canada can be an easy process or difficult depending upon your knowledge and resources. Many US Companies have been setting up as Non-Resident Importers without knowing all the facts and or not enough preparation before they start using the NRI option for their sales advantage to Canada.
I always remember and refer to the Boy Scouts motto “Be Prepared” for reviewing the NRI process before you export your goods to Canada.
B — Begin the information gathering, find out what is needed to import your product into Canada, are there any special permits or licenses needed?
E — Explore different ways you can price your product to make it attractive to the buyer. Should you build in import costs in the price you show, or detail them on your invoice?
P — Plan how you are going to ship and distribute your products in Canada. Consolidate or Ship direct?
R — Request the services of our consulting team to rate your catalog of products to discover the duty rates that may affect your delivered price.
E — Establish your final delivered price, making sure all import costs are included to maximize profits.
P — Proceed with the document set up with Pacific Customs Brokers to make sure your import account is set up and ready to avoid border delays.
A — Audit your procedures and how your paper trail will look to ensure you are in compliance with all customs regulations.
R — Review the GST tax considerations, do you need to, or should you register for a GST tax account.
E — Educate your sales staff on how to quote a landed cost.
D — Delight your customers in Canada with your no border hassle sales solution and Sell, sell, sell!
Tags: commerical invoice, Customs Brokerage, education, exporting, GST, importing, NRI
