Baker Donelson’s Doreen Edelman explains what the Office of Foreign Assets Control is, which businesses need to be concerned about its sanctions, how to comply, and what the penalties are.
Delivering the second part of her series, Baker Donelson’s Doreen Edelman explains the process of classifying products you import. When a product is imported into a country, the importer is legally required to provide its correct tariff classification and sufficient information to enable the government to determine the correct duties and whether any restrictions apply. Proper classification is vital. A misclassification can lead to wasted time, unhappy customers, costly penalties, complex litigation and a record with CBP that will be taken into account in any future enforcement proceedings.
Classification plays separate but fundamental roles in both the U.S. export and import systems. An improper classification can have severe repercussions including civil and criminal fines and penalties. Doreen Edelman provides an overview of export classifications.
When it comes to export rules and regulations, what do companies want most? A system that is clear, predictable and easy to use. The Obama Administration got the message and in August 2009 announced a comprehensive review of the export control system. Here is a summary of the changes and what to expect. Bottom line—it is going to be a long, drawn out process.
Export Compliance Requirements For The HR Manager? If You Hire Foreign Workers in the U.S., You Bet!
Human resources and U.S. export controls don’t go together, right? Don’t bet on it. If that sounds crazy to you, you might be surprised to find an export compliance requirement, which was slipped into an immigration form last year, causing a bit of confusion inside your HR department. Doreen Edelman and Abbey Baker clarify I-129 export compliance and tackle FAQs they get from HR managers on a regular basis.
After discussing the importance of incorporating export and import compliance into the M&A due diligence process, Doreen Edelson of BakerDonelson provides a list of some import and export topics to include in your process.
Antiboycott compliance and reporting is often seen as a relic from the past, but Baker Donelson’s Doreen Edelman is raising it because it is alive and well and actually more complicated these days because those making such requests have gotten more sophisticated. A company’s compliance obligations include a proactive requirement to report boycott requests to the U.S. government. The problem is that it is difficult to decipher “what” actually requires reporting. Doreen gets into the nitty gritty today about antiboycott compliance and reporting.
Now that we’ve talked about improving compliance culture, let’s move to the nitty-gritty. U.S. export laws cover a broad variety of topics and span a range of government agencies, and creating a complete export compliance program can be a daunting task. Let’s break it down into digestible pieces and give you a good framework from [...]
Improve Your Company’s Compliance Culture by Sharing Your Responsibilities (Little or No Extra Effort Required)
Editor’s note: This is the first article in Doreen Edelman’s new monthly column, Export Compliance: It Matters. Happy new year. Welcome to my new monthly column for Corporate Compliance Insights on global business compliance. To begin the new year, I thought we could extend the holiday season theme of “giving to others” by talking about [...]