Title: Trade compliance is critical in today's global marketplace
Headings: What You Need To Know About Trade Compliance For Your Business
What You Need To Know About Trade Compliance For Your Business
Asking The Right Question: Are You Trade Compliant?
What Is Trade Compliance?
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Why Is Trade Compliance Important?
1. International Trade Compliance Protects National Security
2. Trade Compliance Protects Your Business From Costly Violations
3. Trade Compliance Protects Countries & Companies
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Content: For example, the United States must protect certain items from going to other countries and individuals who wish to do us harm. It’s also important to safeguard our competitive advantages in a global marketplace. 2. Trade Compliance Protects Your Business From Costly Violations
It’s important that companies and individuals remain compliant to the laws and regulations, in order to avoid the negative consequences of non-compliance. Those consequences can include hefty monetary fines and seized shipments. There can also be jail time for individuals, and the U.S. government can even debar a company from exporting anything to anyone. ( The next time you ask yourself how important trade compliance really is, just think about what would happen if your company could not ship any product to any foreign destination!) Effective trade compliance ensures that goods are classified correctly, origin, and valuation of goods are accurately declared in accordance to the laws and regulations and that the appropriate duties and taxes are paid. However, this is only a small part of the bigger picture. 3.