If you ever received a refund from CBP, you would typically receive a paper check mailed to you. But get ready, changes are coming and very soon. No longer will you see that check from the US Department of Treasury, refunds will be issued electronically. The interim final rule goes into effect on February 6,…
The Confusing World Of Export Compliance Sometimes the regulations can be confusing and unclear about how to accomplish the tasks required to remain export compliant. One of these examples is Restricted Party Screening, where screening for denied or restricted entities is one of the most crucial risk management tasks within export compliance. All people, even…
Often, when we think of export compliance, our focus is on the Shipping Department and boxes going out the door. But did you know that OFAC recently settled with a Chicago Private Equity fund for $11.48M? This firm had been managing a $50M investment that had ties to Suleiman Kerimov, a sanctioned Russian oligarch and…
This year has been exceptionally challenging for importers. From the outset, new tariffs appeared to be implemented almost daily, with China-related tariff rates changing multiple times—sometimes within a single day. Keeping pace with these developments has proven difficult even for the most experienced trade professionals. Compounding the uncertainty were a series of legal challenges surrounding…
Eight miles outside of Baltimore, along a railroad line dating back to late 1800s, lies a sleepy little town of just 10,000 people. You’ll find quiet, tree-lined streets. An old stone church. And just up the road, across from Panera Bread, in a nondescript, one-story brick industrial building, a few dozen employees work in a…
Under the September 29th rule, any entity, regardless of location, that is at least 50 percent owned by one or more entities on the BIS Entity List or the BIS Military End-User (MEU) List will automatically be subject to Entity List/MEU List restrictions. If this sounds familiar to you then you are right! It is…
Individuals Can Be Debarred Too Most know that companies that violate the export regulations can be fined, penalized and lose their right to export. But did you know that not only companies, but individuals can also be held to that same standard? And that some of these individuals are located right here in the United…
When it comes to importing, accuracy in your import entry is not only important, but also essential. One of the most critical components of this process is the proper classification of goods under the Harmonized Tariff Schedule (HTS). At first glance, this might seem like a simple task. Depending on the product, it can be—but…
It has been a crazy and volatile year when it comes to import tariffs. From the tariffs threats to the implementation to the pauses on certain tariffs, you never know what you are going to wake up to from one day to the next. Last week was no different. On May 28, the US Court…
A Noteworthy Conference with Strong Messages There has been a lot of chatter regarding the recent Bureau of Industry and Security (BIS) annual Update Conference on Export Controls and Policy, which took place recently in March. This year’s conference was particularly noteworthy as it marked the first time Commerce Secretary Howard Lutnick addressed export controls…