Developing and implementing an effective Export Compliance Management Program (ECMP) has become an essential obligation for the corporations and business entities engaging in International trading and export operations. In order to curb the risks associated with the violation of trade regulations like licence cancellations, export privilege denials, etc.; nothing can be better than integrating a concrete internal control program (ICP) and a comprehensive ECMP within the complete business process.
Starting an export and import business has become very easy these days. The internet has made things much easier than before. It has made discovering and communicating very easy with the global communicators and suppliers. It has now become as easy as trading with a “person down the street”. Trading with international countries is not that easy. One needs to follow countless “export trade regulations” for a making “every international transaction” successful. If you fail to follow any one of these trade regulations, you can face penalties like restriction on exporting and importing, fines and even jail. Fortunately, there are many companies that offer tools that can save you from getting into these problems. These compliance tools will help you to address all the responsibilities regarding export trade professionally, afford-ably and quickly. Various Tools for Export Compliance: If your company is like all other export companies, then the major challenge is implementation of appropriate export control and discovering an easy way to incorporate them in your process of export. If, for example, your staff fails to check any one client against the denied party lists, then the shipping process gets delayed because of export trade compliance. This is the only reason why many companies have generated a menu of “export compliance tools”. Operating these tools is very easy and simple. Restricted/Denied party screening software: EAR (Export Administration Regulations), ITAR and FTR (Foreign Trade Regulations) of United States prohibit trading with specific organizations, institutions, companies and individuals. They do not publish all these names in one list; every government agency and department with authority over export generates a particular list, which indirectly means that there are too many lists from where one needs to check. There are many companies who offer excellent screening tools, using which you can check your business partners against all the lists of United States, even access to the foreign government issued lists. Export License Check Software: Before exporting your goods to other countries, the first thing you need to have is if your export requires an export license or not based upon product classification. This tool will help you to know if exporting the product or sending a technical data needs any export license, or if there are some “possible license exceptions”. Export classification software: The process of export classification starts with a complete review of the systems, components and software’s features as well as the skill to design the item and then produce it. The companies that provide these tools also provide a fully documented ECCN or Export Control Classification Number for the product; they can also file official Export Classification Control Number determination application with the appropriate government agency of the United States. These are some of the tools which make international trading very easy for the manufacturers and businesses, who want to export their products to foreign countries. |
Archives
October 2016
Categories
All
|