Form BSF352 Canada - United States - Mexico Agreement Motor Vehicle Averaging Election for Purposes of Regional Value Content - Canada

Form BSF352, Canada - United States - Mexico Agreement Motor Vehicle Averaging Election for Purposes of Regional Value Content - Canada, is used to elect the averaging provision for regional value content calculations under the Canada-United States-Mexico Agreement (CUSMA). It allows manufacturers to average the regional value content of motor vehicles to meet the CUSMA requirements.

The exporter or producer of the motor vehicle in Canada would typically file the Form BSF352 Canada - United States - Mexico Agreement Motor Vehicle Averaging Election for Purposes of Regional Value Content.

Form BSF352 Canada - United States - Mexico Agreement Motor Vehicle Averaging Election for Purposes of Regional Value Content - Canada - Frequently Asked Questions (FAQ)

Q: What is the BSF352 form? A: The BSF352 form is used for the Canada-United States-Mexico Agreement Motor Vehicle Averaging Election for Purposes of Regional Value Content.

Q: What is the purpose of the BSF352 form? A: The purpose of the BSF352 form is to enable motor vehicle manufacturers to make an election to use averaging with respect to regional value content.

Q: What is the Canada-United States-Mexico Agreement? A: The Canada-United States-Mexico Agreement (CUSMA) is a trade agreement between Canada, the United States, and Mexico that replaces the North American Free Trade Agreement (NAFTA).

Q: What is regional value content? A: Regional value content is the value of a motor vehicle that is added by production or assembly operations within the territory of the CUSMA countries.

Q: Who can use the BSF352 form? A: Motor vehicle manufacturers who are eligible under the CUSMA rules of origin can use the BSF352 form.

Q: What is motor vehicle averaging? A: Motor vehicle averaging is a method used by manufacturers to calculate the regional value content of motor vehicles on a group basis, rather than individually for each vehicle.

Q: Why would a manufacturer choose to use motor vehicle averaging? A: Manufacturers might choose to use motor vehicle averaging because it allows them to offset low regional value content of some vehicles with high regional value content of others.

Q: Are there any deadlines for submitting the BSF352 form? A: Yes, there are specific deadlines for submitting the BSF352 form as outlined by the CBSA. Manufacturers should consult the CBSA or refer to the form instructions for more information.