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Law and Compliances

Is it necessary to invest in a Trade Compliance Program?

Answers 1

The goal of a Trade compliance program is to detect, prevent and to ensure that importers and exporters comply with the International Trade Laws. It helps in having a structure that protects the company and its associates, failing which can result in substantial penalties. The teams have to be trained with the latest information with respect to regulations, quality control etc. The best way is to integrate trade compliance as part of the daily routine that provides a foundation of a basic structure. The main elements include: • Completing relevant corrective actions in response to import and export violations • Policies and procedures manual with sufficient levels of operational detail for effective implementation and day-to-day compliance • Continuous Risk Assessment • Adherence to Record keeping other Regulatory requirements


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