The Directorate of Defense Trade Controls announced on July 29, 2020 changes to the measures announced on April 23, 2020 to lessen the burden that the COVID-19 pandemic is having on U.S. companies and the overseas supply chains. These changes were based on recommendations from industry and DDTC review of the public comments.
Exporters often find themselves in need of assistance at various stages of the exporting process. Export Solutions often receives inquiries from potential clients looking for assistance through trade consulting or freight forwarding. It is easy to confuse the two roles because consultants and freight forwarders often work very closely in order to achieve export compliance.
Once again, companies exporting to Hong Kong will need to adjust to the fact that, for shipments of products or transfers of technology, whether controlled under the EAR or the ITAR, a license will be required and the days of preferential treatment for such shipments or transfers are no longer available.
Companies of all sizes need to stay on the up and up when it comes to trade compliance. If you step out of line, your company could receive harsh penalties for OFAC sanction violations. Learn how Amazon recently came under pressure for OFAC violations and what your company can learn from their mistakes.
With Customs Compliance, ignorance is not bliss. If you simply did not know you were doing something wrong with your imports, you will not be let off the hook when it comes to fines or penalties.
Many of us are just trying to keep our head above water with the changing compliance scene. Such is the case with the recent announcement from the Department of Commerce stating that they are issuing an interim final rule allowing persons to share certain U.S. technology with Huawei.
In response to a Final Rule published by BIS effective in March 2020 moving certain firearms, guns, and ammunition to the CCL, AES has been updated to create a new license type, C63, for items not having the same controls as other .y items.
As the business world adapts to face masks, Zoom calls and social distancing, the trade compliance community is also re-evaluating the way it does business. While a lot has changed in your business, one thing that is certain to change – and, in fact, already has changed – is the ubiquitous trade compliance assessment. You might ask: “Are we really doing these online now?”
No one wants to really talk about trade compliance or acknowledge if it is lacking or non-existent. The fact of the matter is that import compliance needs to be prioritized before it is too late. As a business leader you need to know if your team needs import compliance training, and you can ask these 10 questions to find out if you need training.
During tough economic times, companies look for ways to save money and deliver results more efficiently. Instead of putting the company at risk by cutting compliance, many companies are turning to trade compliance outsourcing solutions to protect their business and boost their bottom line.