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Trade Compliance
International Trade Compliance involves a full range of services governing Customs, Import and Export rules, new security regulations and trade agreements.
In today's global business environment, good business practice demands that multinational companies take steps to ensure that they are acting in a lawful manner, while avoiding the appearance of impropriety. Failure to obtain proper export licenses or noncompliance with U.S. Customs rules and regulations may result in criminal or civil penalties and revocation of import or export privileges. Depending on the regulatory determination of the applicable controls, certain businesses are required to register with the federal government. Frost Brown Todd helps clients develop programs designed to assist directors, officers, owners and employees in all aspects of compliance.
In response to September 11 th, the federal government began developing new industry-wide security standards designed to prevent terrorists from getting weapons of mass destruction into the country and keeping U.S. weapons and technology from being exported to terrorists and unfriendly regimes. On the import side, U.S. Customs is actively seeking company participation in programs, known as the Customs - Trade Partnership Against Terrorism or C-TPAT and the Container Security Initiative (CSI). In exchange for implementing C-TPAT and CSI security policies and procedures, companies will receive a significant number of benefits that include:
- Reduced inspections
- Assigned account managers
- Reduced wait times at border crossings and U.S. ports of entry
- A chance to self-police
In light of the changes in the international trade environment businesses need to reexamine their policies and procedures to ensure they are in compliance.
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