Crocs Fined Up to $36 Million from U.S. and Mexico

Posted by Colleen Bush on February 27, 2013

Crocs Inc., a worldwide shoe manufacturer, disclosed in its 10-K filing last week that the company may owe up to $36.2 million in fines to U.S. and Mexico Customs and taxing authorities. This estimate is based on two separate audits by the U.S. Customs & Border Protection agency and Mexico’s Federal Tax Authority.

On January 9th, Crocs received notice from Mexico’s Federal Tax Authority that they could be facing a fine of $22 million, based on the value of raw materials imported into the country. These fines were discovered during an audit of the company from January 2006 to July 2011. Crocs officials have claimed that the Mexican Federal Tax Authority found no major discrepancies during the audit’s first phase, which covered capital equipment and finished goods. The second phase, which covered raw materials, revealed the potential fines.

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Topics: Global Sourcing, Import Management

Amber Road Honored with Tenth SDCExec “Pros to Know” Award

Posted by Kelsey Barker on February 25, 2013

Supply & Demand Chain Executive presented its annual Pros to Know award to three Amber Road executives this year: Jim Preuninger, CEO; Stephanie Miles, Senior Vice President of Commercial Services; and Ty Bordner, Vice President of Product Management and Solutions Consulting. This is the tenth year in a row an Amber Road visionary has been recognized by the publication for his or her commitment to helping customers transform their global supply chain.

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Topics: Press Releases, Global Trade Management Software, Amber Road News, GTM Best Practices, Global Trade Management

Vishay Intertechnology Reduces Trade Compliance Risks with Amber Road’s RPS On-Demand Solution

Posted by Colleen Bush on February 20, 2013

Amber Road, a leading provider of global trade management solutions, announced yesterday that Vishay Intertechnology, Inc. (NYSE:VSH), one of the world’s largest manufacturers of discrete semiconductors and passive electronic components, reduced corporate risk and improved compliance with trade regulations using Amber Road’s Restricted Party Screening (RPS) On-Demand solution.

Integrated into three separate instances of SAP, the RPS On-Demand solution enables Vishay to screen tens of thousands of its customers and vendors across the Americas, Europe, the Middle East and Asia, against over 200 restricted party lists from government institutions worldwide.

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Topics: Press Releases, Amber Road News, Export Management, Export Compliance, Restricted Party Screening

Should US Aquariums Be Allowed to Import Beluga Whales?

Posted by Caroline Brown on February 5, 2013

The Georgia Aquarium in Atlanta has recently applied for an import permit for 18 beluga whales for breeding and research purposes. Their application has reopened a nationwide debate on whether or not it is morally acceptable to keep "highly intelligent cetaceans," such as whales, in captivity.

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Topics: Import Management, Product Classification

Iranian Crude Oil Export Levels See Substantial Rise

Posted by Caroline Brown on February 5, 2013

Iranian crude oil exports in December rose to their highest levels since EU sanctions went into effect last July. According to multiple sources, exports rose to around 1.4 million barrels per day (bpd) in December, up from a low point of less than 900,000 bpd in September. This export surge is not expected to last however, as a new round of Western sanctions aimed at curbing Iran’s nuclear program will take effect in February.

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Topics: Export Management, Export Compliance

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