I. Choose the words from the group below to complete the article. It may be necessary to change the form of the given words.

To submit, duration, fines, destination, penalties, to damage, collateral, permits, purchase, finished.

All exporters are required to complete and 1)…. an Export Permit for controlled, prohibited and regulated goods (regardless of the shipment value). All controlled, prohibited, or regulated goods must be reported to the port mentioned on the export permit. In addition, the required 2)…, certificates, or licenses must be submitted to the CBSA prior to the goods leaving Canada.

Goods exported to a non-U.S 3)…., which are subject to a GEP, must be reported by stating the GEP number in the Export Permit Number Field of the "Export Declaration - B13A".

The CBSA's implementation of AMPS carries heavy 4)… for exporters that do not comply with B13A and Export Permit requirements. The charges for not filing these important documents prior to export could result in 5)… from $1,000 to $6,000 per shipment. As the exporter, you are fully responsible for filing the B13A and/or Export Permit and for the fines associated with non-compliance. FedEx is not responsible for any B13A and/or Export Permit documents that may be lost, stolen, or 6)… during transportation to CBSA and other government agencies.

EDC provides trade finance and insurance services that help Canadian exporters and investors of all sizes do business in some 200 global markets. EDC is a Crown corporation that operates as a commercial financial institution.

Export Programs/Services:

Accounts receivable insurance, which covers up to 90% of an exporter's loss when buyers don't pay and can be used as 7)… at the exporter's bank to increase working capital;

Loans and lines of credit to foreign buyers of Canadian goods and services, which turn credit sales into cash sales and help Canadian exporters offer competitive payment terms to foreign buyers;

Contract bonding and guarantees, streamlined financing solutions for smaller businesses and specialized trade finance services.

By providing a guarantee to your financial institution, the Export Guarantee Program could help you access additional financing to support export-related activities and/or foreign investments.

For example, we can provide guarantees on loans to:

finance your work in progress and inventory related to a specific or multiple export contracts;

finance on-going export-related working capital needs;

finance the 8)… of equipment or other expenses related to export activities;

finance your federal Scientific Research and Experimental Development Tax Credits (SR&ED) related to both your pre- and post-filing period. EDC can provide a partial guarantee to financial institutions that are willing to provide loans using the tax refund as collateral.

provide support to allow Canadian companies looking to expand their business by making business investments outside Canada;

finance foreign-domiciled inventory. Among other requirements, this type of inventory must consist of 9)… goods for which the exporter has unencumbered legal title; and

free up working capital by using the security of your foreign receivables and an EDC guarantee to your bank to increase your operating line of credit.

Costs are based on the associated risks, the 10)… of the contract and the amount of financing required.

Date: 2016-01-14; view: 773