Uncategorized

Exporting goods involves a number of different laws and regulations. One such regulation relates to the classification of your products. Every exporter needs to be aware of the pertinent norms regarding product classification. The origin-country determines the set of rules that you need to comply with. Such product classification mechanisms also allow importers to pay the right amount of duties and comply with all regulatory requirements. However, classifying products accurately can be a major challenge for various exporters. Here is a short guide that will help you with your product classification procedure:

Over the past few decades, rapid globalisation has meant that traders all around the world are highly connected. It has become much easier to export and import products to different parts of the world. This has provided them with access to new markets, smoothened out the supply chains, and ensured that pricing differentials could be exploited. However, there are also certain drawbacks of such globalisation. Importers and exporters need to be extremely careful regarding the rules and regulations in different parts of the world. This blog will help traders in understanding the challenges of multi-national laws, as well as informing them about how to overcome key hurdles.

International transfers of software and technology are very different compared to the export and import of other goods and services. This is because software and technology can be in a tangible or intangible form. For example, the software can either be in the form of a memory stick, which is tangible, or in the form of a server download, which is intangible. Thus, it is critical for exporters and regulators to be in sync with regard to software and technology transfers. This blog aims to review the key challenges on the measures to control software and technology transfers.

Organisations in the business of controlled/sensitive goods such as aircraft parts, government military projects require a strict visitor management programme. For such companies, it becomes imperative to make sure that each visitor that enters their premises is identified and tracked. They also need to ensure that no unauthorised visitors enter their office because this may pose a serious security threat not just for the company but for the country as well.

Managing any global authorisation (an export/re-export licence, agreement, exemption or exception, national or open general licence, etc.) requires more than just ensuring exports do not exceed the authorised quantity or value. Company officials and executives must ensure all provisos and conditions of the export authorisation are strictly followed, including filing periodic reports with the licensing authority when required. Mismanagement of authorisations processed manually may lead to amplified labour costs, lengthier fulfilment cycles, shipment delays, upset customers, and exposure to regulatory penalties including jail time.

It is likely that over the next few weeks, Britain will leave the European Union. As the push and pull over a Brexit deal continues, traders need to be Brexit ready. At present, the UK government is trying its best to ensure that any new controls or regulations do not interrupt the current trade flows. Despite these efforts, some changes are bound to happen. Therefore, it is extremely important for traders to know about the potential changes in export compliance regulations.

Exports are defined as goods and services that are produced in one country and purchased in another. On the other hand, re-export refers to the shipment or transmission of a particular imported item to a different country. The US is one of the largest re-export markets in the world, with an estimated size of $200 billion. Examples of items that are commonly re-exported include fisheries, apparel, and technology products. However, traders are often unaware of the regulations that govern the re-export process. One such regulation pertains to the extra territorial jurisdiction of the US authorities. This implies that the US government has the ability to exercise authority beyond its boundaries in some cases. This article will help in developing a better understanding of the re-export controls that govern the re-shipment of US goods in the UK and European market.

One of the biggest factors in strengthening your business’s reputation is ensuring the presence of a strong compliance program. Companies with efficient compliance programs are equipped to uphold internal policies and practices that ensure maximum security. These programs examine set rules regarding their industry in order to implement certain procedures, both internally and externally.

A company that uses a global trade management software system can reduce the costs, risks and delays associated with manual compliance and tracking efforts.

If your company imports or exports physical goods or digital products, or conducts global e-commerce, there is a strong chance that you will need some form of global trade management (GTM) system. Despite this being an essential requirement, companies of all sizes still try to manage their global trade and logistics manually, with employees having to resort to dealing with the arduous task of analyzing spreadsheets packed full of data.

Integration of national economies contributing to globalization has been one of the most important developments of the last century and led to tremendous growth in trade between countries. Exports today are more than 4,000-times larger than they were a century ago. New technologies in this modern age have made the world a more accessible place than ever before, drastically increasing complexity in international trade.