As companies like yours look to increase revenues and expand into rewarding foreign markets, uncertainties and complexities await. These lurking uncertainties are the primary challenges and complications with export compliance. Rapid growth for your company often means entering new fertile markets, expanding production, and reaching new customers. All of these factors bring immeasurable pressure to your trade compliance team. 

Amber Road conducted a survey of nearly 150 mid-market companies to better understand their export compliance challenges and the extent to which they are performing compliance checks today.

The mandatory checks and balances for export compliance are fairly standard, and most global US corporations are aware of them. However, only 62% of exporters surveyed in a study by Amber Road actually have a full export compliance program (ECP) in place. This leaves many organizations vulnerable and at risk of noncompliance. Penalties and fines have been on the rise and all organizations, large and small, are susceptible to committing infractions when not exercising due diligence. 

Amber Road is excited to sponsor the NCBFAA Global Trade Educational Conference on August 3 – 4 in Chicago. This conference is designed for customs brokers, freight forwarders, NVOCCs, OTI, service providers, importers, exporters and global logistics professionals and will feature industry developments, networking opportunities and opportunities to ask your most pressing global trade questions.

NORTH POLE, December 19, 2014 – North Pole Industries, a leading global provider of toys for good little girls and boys, has implemented Amber Road’s Global Trade Management suite for its worldwide distribution network.

Before signing with Amber Road, NPI had been using a combination of spreadsheets, wish lists, and a whole team of research elves to plan its supply chain.

On November 10, 2014, the Office of Foreign Assets Control (OFAC) added names of specific entities subject to Executive Order 13611 to their Specially Designated Nationals (SDN) list. Signed on May 16, 2012, E.O. 13611 declares a “national emergency to deal with the unusual and extraordinary threat to the national security and foreign policy of the United States posed by the actions and policies of certain members of the Government of Yemen and other individuals and entities that threaten Yemen’s peace, security, or stability.”

Last month, Amber Road broadcasted part one of our three-part Export Compliance Webinar Series, which focused on Restricted Party Screening. Our presenters, Scott Lewis and Scott Parker (both of Amber Road), got a lot of questions at the end of the webinar. Here are a few of their responses:

Commerzbank AG, the second-largest bank in Germany, is expected to pay $600-$800 million in fines as restitution to the U.S as a result of their dealings with Iran and other nations under U.S. sanctions. The U.S. started looking into Commerzbank back in 2010 and has since found that the bank took down identifying information from incoming wires in an attempt to hide anything that would raise questions.

Establishing an Export Compliance Program (ECP) can be a daunting task. Don’t worry, we can help! In our complimentary three-part export compliance webinar series, we will address the three key steps of building an ECP (Restricted Party Screening, Product Classification, and Shipment Screening & Documentation), and show you how Export On-Demand can help.

Join Amber Road for part one on Tuesday, August 19 at 2:00pm EDT, which will focus on the most common first step of any Export Compliance Program: Restricted Party Screening. Presenters will discuss how Export On-Demand can help automate the Restricted Party Screening process, and how easy it is to implement the software across your organization.

Global trade management can be complex…and so can the terminology! We created a series of short videos to help you understand the basics. These videos focus on the key points you should know about restricted party screening, landed costs, duties, tariffs, and incoterms.

In the first video of the series, we explain what a restricted party is, and why Restricted Party Screening (RPS) should be an essential part of your compliance program. If your company engages in business with a denied party, you can face fines, penalties, a loss of export privileges, and even jail time.