Successful companies use metrics or key performance indicators (KPIs) to measure aspects of their performance. Often times, these metrics or KPIs apply to sales, marketing or manufacturing. But they can—and should—be used in import and export compliance functions, too.
When effectively applied, trade compliance metrics drive process efficiencies, provide better visibility, and promote the efforts of the trade compliance group to the executive team and throughout the entire organization.
Freight forwarders play an important role in managing the movement of freight worldwide. One may think that a freight forwarder that does everything for an importer and/or exporter is providing you with really great service.
In reality, however, the freight forwarder that does everything is really doing you a disservice and, in some cases, may be opening you up to increased compliance risks and exposure to fines and penalties. Strongly reconsider your choice of a forwarder or customs broker if they do not regularly involve you in the imports and/or exports they handle on your behalf.
In this global economy and the age of outsourcing, it is more important than ever for compliance organizations to be vigilant in ensuring exports of controlled technology do not occur without the appropriate authorizations.
You know that export compliance is not only essential, it is a strategic advantage for the organization. Does your executive team understand that? If not, it may be time to sell your executive team on the need for trade compliance.
During tough economic times, when margins are slim or non-existent, companies take a hard look at costs. And when that happens, companies cut costs in areas that are not contributing to revenue, such as export compliance measures.
Anti-boycott Compliance refers to the provisions found in Part 760, Restrictive Trade Practices or Boycotts, of the Export Administration Regulations (EAR). This part prohibits U.S. persons from complying with boycotts that are not sanctioned by the United States and that contradict U.S. policy. Although they apply to any boycott not sanctioned by the United States, they were primarily established by Congress to counter the Arab League boycott of Israel.
The premise seems simple enough. However, in actuality deciphering the prohibitions from the exceptions and non-reportable requests can be a complicated task that requires a great deal of attention to detail to ensure compliance.