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YOU MUST COMPLY "I think it is clear — especially in the aftermath of September 11 — that no company wants to see its name in the headlines of the Washington Post or any other newspaper as the source of some critical item or technology that facilitated an act of terrorism." (Kenneth I. Juster, Under Secretary of Commerce for Export Administration at BXA Update 2001, Washington, D.C., October 4, 2001). The U.S. government requires all U.S. companies to ensure their exports are conducted legally Trouble is, executives are often led to believe that U.S. export regulations and laws apply mainly to the defense industry, and do not apply to foreign subsidiaries, distributors, and agents. On the contrary, all United States export regulations and laws apply to all U.S. companies, including their foreign subsidiaries and agents in other countries, their employees, and all their export transactions. It's about both controlled goods and restricted party screening Controlled goods and technologies, and their proper classifications, are an important part of any export compliance management system, but they're only half the story. In addition to restricted and regulated goods and technologies that can't be sold to certain countries, there are lists of individuals, companies, organizations, and other entities to whom you cannot ship, whatever the cargo. Banking and securities companies are also required to undertake similar denied party screening for specially designated nationals and blocked persons. Also, some goods permitted under one program to a particular country might be prohibited to the same country under another. The whole procedure can easily get complicated, and requires the latest up-to-date information from a variety of government sources, and a good export compliance software system like Visual Compliance to speed up your checking and screening, and improve your accuracy. Pouring over government restricted lists is time consuming Several federal departments, commissions, and agencies have their own restricted lists, some available over the Internet. Using these lists one-by-one is time consuming, cumbersome, inefficient, and a dead-easy way to make mistakes. Some of the information is not even published by the government agencies, but appears only in the rules and notices of the daily U.S. Federal Register. Why worry about compliance? Some of the most respected companies in America have uncovered gaps in their export compliance the hard way: through expensive fines and damaging publicity. Ensuring export compliance isn't easy. However, as many companies and their employees have discovered, stiff fines and prison sentences, as well as government denial of export privileges, makes export non-compliance extremely costly for your company. Government agents across the country check for compliance by sifting through export documentation in search of errors and anomalies, and thousands of Customs and FBI agents monitor U.S. export trade. It is becoming increasingly necessary to implement a software export management solution just to keep up with existing legislation and regulations. Verify your transactions with Visual Compliance Do you have the solutions in place to avoid the hefty criminal and civil consequences of export non-compliance? Legally transacting your shipment means screening your consignees and their agents against denied persons lists, checking your shipping item descriptions and classifications against the list of controlled goods, and determining what the rules and licensing requirements are for the countries you're shipping to. With Visual Compliance license management and export compliance software systems, you can protect your company in the areas of denied party screening, controlled goods classification, and Commerce Control List (CCL) export license determination. Call toll-free 1-877-328-7866 and talk to one of our global
trade compliance consultants. They'll help you analyze your requirements, evaluate
your options, and provide focused product demonstrations. Or send an email to
info@eCustoms.com. |
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