Global Trade Net (www.globaltrade.net) recently published a great article by Matthew Goldstein on how to comply with Export Regulations and controls.
In many respects, export controls are just another cost of doing business in today’s global marketplace. They cannot be ignored. Responsible exporters must be dedicated and fully commit their company to compliance. They must stay informed of changes to the export control regulations, follow other laws applicable to their international operations, and adjust each compliance step as needed. While this may all seem very complex, the eight steps described in this article present an organized approach to export controls that can minimize risks and help keep a company’s foreign markets open.
In many respects, export controls are just another cost of doing business in today’s global marketplace. They cannot be ignored. Responsible exporters must be dedicated and fully commit their company to compliance. They must stay informed of changes to the export control regulations, follow other laws applicable to their international operations, and adjust each compliance step as needed. While this may all seem very complex, the eight steps described in this article present an organized approach to export controls that can minimize risks and help keep a company’s foreign markets open.
THE EIGHT STEPS TO COMPLIANCE
| ONE | Learn the Rules |
| TWO | Determine Jurisdiction and Classification |
| THREE | Register as Required |
| FOUR | Screen Each Transaction |
| FIVE | Obtain All Necessary Authorizations |
| SIX | Make and Keep Records and Reports |
| SEVEN | Implement a Written Compliance Program |
| EIGHT | Monitor Compliance |
The complete article can be found on Global TradeNet.
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