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

The Long Arm of OFAC – How US Sanctions Impact Pretty Much Everyone

Posted by Daniel Smith on May 21, 2019

When you think sanctions, there are a few things that probably come to mind: Iran, North Korea, possibly Russia. You may envision munitions being smuggled in Cold War-era trucks by rogue factions of defunct military groups.  You may think only bad actors such as known terrorists are direct targets of US sanctions, and only companies that operate within the US are subject to sanctions rules. If you think this, you’d be wrong.

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Topics: Global Trade Management Software, Import Management, Export Management, Global Trade Management, Global Knowledge

Amber Road Launches Carrier Cargo Screening

Posted by Kelsey Barker on May 6, 2019

Today, Amber Road announced a new cargo screening solution to address the challenge carriers face in identifying shipments that may contain prohibited, hazardous, or dual-use goods based only on the limited information provided on a transportation manifest or air waybill.  The solution is ideal for global logistics providers who must aggregate and accurately screen a high volume of shipments from multiple providers to comply with increasingly stringent laws.

The global logistics industry is challenged by trade regulations related to Know Your Customer (KYC) which requires carriers know the shipper, the recipient, and the end-use of the products they carry to ensure that goods are not shipped to a sanctioned party or embargoed country and comply with non-proliferation of dual-use goods unauthorized for general trade.  Customs authorities around the world are increasingly monitoring the effectiveness of logistics providers’ cargo screening processes to determine compliance.  There are numerous examples of companies that use only “exact matching” screening algorithms on names and addresses who have been cited for failing to meet the standard of reasonable care and have been penalized with escalating fines.

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Topics: Export Management, Restricted Party Screening, Export Violations, Global Knowledge

Why All the Angst Over Brexit?

Posted by Daniel Smith on April 15, 2019

Last Friday was the date set for Britain’s withdrawal from the European Union. What might ultimately have happened on this day has been salivated over by some and agonized over by others ever since the UK voted nearly three years ago to withdraw, an event quickly dubbed “Brexit”—Britain Exiting the EU.  After the Brexit referendum, British Prime Minister Theresa May had over two years to negotiate an exit strategy that would gain Parliament's support. This proved more difficult than most anticipated, and the deadline was pushed back to April 12, 2019. But with the next deadline looming and nothing concrete in the works, the PM Theresa May and EU leaders agreed to extend this date for another six months; so, for now, the UK remains in the EU. But those not living in the UK may be wondering, why all the angst? Why can’t the UK just withdraw? The short answer is, they could. The long answer is much, much more complicated.

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Topics: Global Trade Management Software, Import Management, Duty Management, Export Management, Global Trade Content, Global Trade Management

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

Cintas Selects Amber Road’s On-Demand Global Trade Management Platform

Posted by Kelsey Barker on February 4, 2019

Cintas Corporation, a leader in their industry, has launched Amber Road’s GTM solution suite. Once fully implemented, the solution will streamline Cintas’ import and export operations, by creating  real-time, collaborative and fully standardized digital trade activities. 

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Topics: Import Management, Duty Management, Export Management, Global Trade Management, Trade Agreement Identification, Free Trade Agreements

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

Duty Drawback Simplification: Your Questions Answered!

Posted by Kelsey Barker on September 28, 2018

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. Earlier this month, Amber Road’s Global Trade Academy hosted a webinar with Drawback Specialist Brenda Sweetman to cover these important updates.

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Topics: Import Management, Duty Management, Export Management, Product Classification

Talking Logistics Interview with Gary Barraco - Digitization: Where Can You See Value?

Posted by David Hamilton on July 23, 2018

Gary Barraco, Director of Global Product Marketing at Amber Road, speaks with Adrian Gonzalez of Talking Logistics about several aspects of digitizing the global supply chain and the benefits it provides. Digitizing your supply chain empowers global trade professionals with a competitive edge by providing visibility across shipments, into costs, and ahead of potential risks – all netting significant cost savings. Gary and Adrian address several questions that culminate in building a business case to prove the value of a digital supply chain to your C-Suite.

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Topics: Import Management, Export Management, Global Trade Management, Supply Chain Visibility

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