There's A New OFAC Reporting Obligation for Rejected Transactions

Posted by Suzanne Richer on July 18, 2019

If you're a responsible importer or exporter, you know that denied party screening is essential to remaining compliant - and that if you get a flag on a shipment, you stop the shipment immediately to avoid penalities and fines. But new rules published last month by OFAC now require you to not only stop that shipment, but to alert the government of the denied party you've uncovered as well. 

The Office of Foreign Assets Control (OFAC) published the new rules on June 21, 2019 in the Federal Register, and they create a whole set of new reporting obligations for companies doing international business. Now you must go beyond scanning the destinations and prospective parties to the transaction against current sanctioned countries and the Prohibited Party lists - you must also report any resulting “rejected transactions” to OFAC within ten days after they occur.

That's a big process change, especially for companies with large trade volumes. Here's what you need to know to comply with these new OFAC obligations.

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Topics: Export Management, Export Compliance, Restricted Party Screening, Export Violations

Spring Cleaning: Get Your HS Code Right!

Posted by Suzanne Richer on April 24, 2019

Challenged with classification? Classifying the same product differently in one or more countries? Uncertain as to when a “kit” is a “kit for customs purposes” or when to classify a part with the machine and when not to? 

The Harmonized System (HS) is a global number, to 6-digits, that drives the duties, fees and taxes of a product upon importation, in addition to applicable protective measures (i.e.: antidumping). In addition, the HS number is the basis of many free trade agreement qualification processes. So why do so many companies raise their customs risk and classify some products differently when operating in more than one country?

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Topics: Import Compliance, Product Classification, Export Compliance, Global Trade Academy, Trade Compliance, Import Customs Filing

Customer Testimonial: Amie Anderson, Monsanto

Posted by Joseph Gabro on February 12, 2019

Monsanto is an agricultural company that provides sustainable solutions for farmers to help them produce food more efficiently. They export from over 40 countries into over 120 countries, with about 30,000 export transactions between those countries.

Amie Anderson, Global Export Manager for Monsanto, discusses how Amber Road’s Global Trade Management solutions have equipped Monsanto with end-to-end visibility into their entire supply chain with consistent and standardized data.

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Topics: Global Trade Management Software, Export Management, Global Trade Management, Export Compliance

Brooke Markley, Shining a Spotlight on Compliance

Posted by Lacey Pierce on October 19, 2018

When Brooke Markley was nominated to participate in our Compliance Professional Spotlight campaign, we knew immediately that she was going to be our next Compliance Champion.

With her extensive experience as an agricultural economist and policy analyst, Brooke has spent her entire career helping others grow their agricultural businesses. In her role as the Trade Compliance Manager at Leprino Foods, Brooke helped revolutionize her company’s processes with respect to compliance and accuracy. As the first person to fill this new position at Leprino, Brooke has gone above and beyond. Not only has she defined the role and navigated the difficulties of being the first with grace, she’s created policies to fit Leprino’s unique compliance requirements associated with the cheese and dairy nutrition products that Leprino Foods exports to more than 40 countries across the globe.

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Topics: Export Management, Export Compliance, Export Customs Filing

Meet Our Captain of Compliance: Bethany Nelson

Posted by Lacey Pierce on October 3, 2018

In honor of National Compliance Officer Day, Amber Road will be recognizing one compliance officer weekly from October 3rd through November 4th. With all of the changes in trade agreements, product testing and ethical sourcing standards, maintaining compliance in any part of your supply chain is becoming increasingly more difficult. We believe in the magic that compliance professionals bring to their company. Therefore, we are spotlighting Bethany Nelson, the Export Control Coordinator for the University of Wisconsin-Madison.

Bethany is a self-proclaimed “nerd” when it comes to compliance! Over the past 5 years, she’s helped UW-Madison’s Export Control Office grow into a more robust program, through dedicated outreach and education programs. Bethany has done this under the leadership of Tom Demke, the UW-Madison’s Export Control Officer. They ensure the University’s compliance with relevant federal regulations through hard work and dedicated effort.

Before she helped build UW-Madison’s Export Control Program, she earned a B.S. in physics from the University of Wisconsin-Milwaukee but decided that quantum mechanics and black holes were just too pedestrian a field and got a J.D. from the University of Wisconsin Law School.

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Topics: Export Management, Export Compliance

Game-Changing Duty Drawback Simplification is Here – Are You Ready?

Posted by Kelsey Barker on September 10, 2018

Duty Drawback Simplification regulations are finally here, and they’re a game-changer for importers and exporters looking to recover duties and fees. Companies can now go back five years for duty drawback claims, but you need a plan.

Join Amber Road’s Global Trade Academy for a complimentary webinar this Thursday, September 13, at 2PM EST, with Drawback Specialist Brenda Sweetman.

Brenda, along with Global Trade Academy’s Suzanne Richer, will walk you through the key points in the proposed regulations:

  • The items the CBP has settled – and what they still have to negotiate
  • A timeline: how and when to apply
  • The eligibility of brand new tariffs for drawback

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Topics: Duty Management, Import Compliance, Export Compliance

Amber Road and Dow Jones Partner to Deliver Expanded Restricted Party Screening Capabilities

Posted by Kelsey Barker on June 5, 2018

Today, Amber Road announced a new partnership with Dow Jones Risk & Compliance to offer enhanced Restricted Party Screening (RPS).

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Topics: Global Trade Content, Import Compliance, Export Compliance, Restricted Party Screening, Export Violations, Global Knowledge

Navigating Your Way Through Global Trade Uncertainties

Posted by David Hamilton on June 5, 2018

Today’s global trade market, subject to volatility and constant changes, presents several challenges to international companies and their supply chains. Risks to supply chains are normally categorized into issues such as production errors, unanticipated weather events, labor disputes, and qualms with supplier reliability. While these are all legitimate fears that any sensible company should monitor, special attention should also be paid to addressing global trade uncertainties—modifications in economic and political trade policies that precede shifts in regulatory compliance standards.

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Topics: Duty Management, Global Trade Management, Import Compliance, Export Compliance, Trade Compliance

Captain Compliance to the Rescue: Simplifying Export Compliance!

Posted by Joseph Gabro on May 13, 2018

As companies continue to grow, so too do the total shipments and countries in their global supply chain, further complicating existing export compliance processes. Whether it be restricted party lists, export controls, license requirements, or the various regulatory risks exporters face on a daily basis, an automated and configurable solution is needed to make things easier - that's where Captain Compliance comes in!

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Topics: Export Management, Deemed Exports, Export Compliance, Restricted Party Screening

Missing the BIS Update Conference This Year? Catch Our Key Takeaways!

Posted by Paris Riley on May 10, 2018

Are you unable to make it to this year’s Bureau of Industry and Security (BIS) Update Conference in Washington, DC? Or will you make it to Washington, DC, but would like a review of the themes and updates from the show?

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Topics: Export Management, Automated Export System (AES) Filing, Export Compliance, Export Violations

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