Pre Trade Compliance Consulting: A Wise Investment

If you do business internationally, you know the complexity involved in the logistics of moving your product worldwide. Ensuring that your team executes all import and export transactions while keeping to the letter of the numerous trade regulations is an enormous challenge.

And with regulations changing frequently, how can you be sure your import and export activities are all in keeping with the latest changes? Many companies work with a pre trade compliance consultant to audit current practices, identify areas of vulnerability, and draft any necessary changes for remaining compliant.

In many ways there is no better time to have an international business. The world is more connected than ever, and you can identify markets all over the world for your product. However, making sure that your company abides by the following is an enormous task.

· Export Administration Regulations

· International Traffic and Arms Regulations

· U.S. Customs and Border Protection Rules

· Harmonized Tariff Schedule Rules

· Category Classifications

Having policies in place for every employee involved in import or export transactions is essential for remaining compliant. Comprehensive policies also help your case by providing mitigating facts should you inadvertently violate a regulation and be called out by CBP or another government agency.

Pre Trade compliance consulting may be your answer for keeping procedures up to date and for training personnel on compliance in their import or export tasks. A pre trade compliance specialists works with your personnel involved in export licensing, procurement, supply chains, and program management to assess compliance and identify areas of vulnerability.

When vulnerabilities are identified, your consultant can help you change procedures and rewrite policies to head off any potential import or export violations, and can provide on-site or web-based training for affected personnel.

Your consultant will understand tariff relief provisions and whether they apply to your business, and may provide support for improving your import and export databases, and he or she may implement a compliance audit afterwards to ensure that any vulnerabilities have been addressed and that new policies and procedures are compliant.

If you have operated internationally for years without being caught in violation of some regulation, then you are to be congratulated. However, not having been caught doesn't necessarily mean that you are complying with all regulations. Should you be found in violation, the results can be productivity slowdowns, disruption to your supply chain, products not making it to their destination, and stiff fines for your company.

Adverse publicity can follow as well, making it that much more challenging to get back to normal operations. You minimize chances of violations and show the regulatory agencies that you are making a concerted effort to remain in compliance.

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