This week, I have been lucky enough to engage in a round table with some of the most knowledgeable, international customs experts worldwide. As we discussed trade compliance in Asia, EU, North America, and Australia, as well as currently emerging markets, I realized something: these people are MUCH smarter than I am…
I am pretty good at throwing out a smart question every now and then, but as we discussed the worldwide complexities of the UCC/AEO, biomedical/pharmaceutical marking and shipping, and the potential of TPP... Well, it left my head spinning.
How do companies with small compliance staffs keep up to speed with all these regulations?
A few years when I wrote “Do I really need a trade compliance expert?”, I asked the questions:
- Are your suppliers compliant?
- Is the information you received from your predecessor accurate?
- Could your company maintain stability if your shipments came to a stop?
- Why are your goods getting stuck at the border?
- What is your “reasonable care” or “professional competency?”
Today, I ask an updated variation of the questions.
- What have your suppliers done to show you their level of compliance?
- Have you taken the time to see if your goods qualify for a Free Trade Agreement or Drawback?
- Do you have import and/or export compliance manuals?
- Could you explain and show to Customs, in your respectable country, what your documented reasonable care is?
- Do you have controls to ensure your procedures are working?
The complexities of International Trade grow daily. If you find yourself wondering if you need a compliance expert, know that yes, you do need a compliance expert.
Tradewin has broad-based international experts to guide you through your distinct complexities.