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Trade Compliance

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Why is Trade Compliance so important?

In a globalised economy, it is more important than ever for companies to comply with applicable trade regulations. Trade compliance includes export control regulations, customs regulations and sanctions compliance regulations.

Export control regulations govern the export of goods and technologies intended for military or dual-use use. Companies exporting these goods or technologies must apply for a licence and obtain the necessary authorisations.

Customs regulations govern the import and export of goods. Companies must complete the required customs clearances and pay the required customs duties.

Sanctions Compliance regulations govern trade with sanctioned persons and countries. Companies that trade with sanctioned persons or countries risk fines or other sanctions.

Consequences of infringements

Violations of trade compliance regulations can have serious consequences. Companies that violate these regulations can be fined, penalised or even banned from trading with certain countries or customers.

In addition, trade compliance violations can damage a company’s image and lead to reputational damage.

How can you comply with the regulations?

Trade compliance requires careful planning and implementation. Companies should establish a trade compliance management system to ensure compliance with applicable regulations.

A trade compliance management system should include the following elements:

  • A risk analysis to identify the potential risks to the company.
  • Procedures and controls to minimise the risks.
  • Training for employees to ensure compliance.

How can we support you?

We support you in complying with trade compliance regulations and offer a range of services, including:

  • Advice on the creation and implementation of a Trade Compliance Management System.
  • Assistance with export control compliance, customs compliance and sanctions compliance regulations.
  • Training for employees.

Conclusion

Trade compliance is an important aspect of international trade. Companies that do not comply with applicable trade regulations risk serious consequences.

We can assist you with trade compliance regulations.

Our Key Points

EU-Green Deal

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Export Control Compliance

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