Trickery requiring present transport to be on time (7)
I believe the answer is:
sleight
'trickery' is the definition.
(as in sleight of hand)
'present transport to be on time' is the wordplay.
'present transport' becomes 'sleigh' (Santa's sleigh transports presents).
'to be on' means one lot of letters go next to another.
'time' becomes 't' (abbreviation).
'sleigh'+'t'='SLEIGHT'
'requiring' is the link.
(Other definitions for sleight that I've seen before include "Skilful deception" , "Tricky cunning" , "Handy skill" , "Conjuror uses this" , "Cunning action" .)