Does Your Company Take International Trade Compliance Seriously?

Many violations of trade compliance regulations are unintentional, but that doesn't mean they aren't serious. If your company is found to be in violation of regulations, whether on the import or the export side, problems can quickly mount, such as: • Slowing or halting of the supply chain • Products languishing in customs for lengthy periods • Difficulty getting products to customers • Assessment of heavy fines Importance of Having an Official Trade Compliance Policy If your company does business internationally and doesn't have an official trade compliance policy issued by the president or CEO, you risk an uninformed or misinformed employee pool. Having an official company trade compliance policy is the first step toward integrating trade compliance into your everyday operations. If you are not sure where to begin, contacting an international trade compliance specialist is a good starting point. Employee Training Policies are great, but they aren't worth much if employees don't know about them and don't know what to do if they believe a violation has occurred. Any employee who deals with imports or exports must be trained in trade compliance, and their training must be kept current. Trade policies change frequently and what was OK last year may not be OK this year. Keeping employees aware of trade compliance is one key to avoiding violations. Periodic Trade Compliance Auditing Another reason to consider working with an international trade compliance

specialist is for periodic compliance audits. An independent audit can discover problems and potential problems, and a good compliance specialist will help you devise and implement solutions. Audits should not be a one-time undertaking. Changes to trade policies happen frequently enough that periodic compliance check-ups are highly recommended. Don't Take Chances You don't want all the hard work your company does to be undone by supply chain problems, trade violations, and fines. Even if you work in a sector unrelated to sensitive industries like defense, trade regulations may apply to your supplies, products, or services. Staying on top of trade regulations is absolutely essential for your company to continue to operate at its best.