Ascent Global Logistics Blog

Ascent__mount_icon-1.png

New Year's Resolutions For Importers And Exporters In 2019

Posted by Ascent Global Logistics on Jan 2, 2019 12:21:54 PM

As the new year begins, many will make New Year’s resolutions to save money, lose weight, get in shape, travel more, read more books, learn a skill or hobby and a whole host of other goals. But New Year’s resolutions don’t have to just apply to personal health and wellness.

Achieve Peak Trade Compliance In 2019

Importers and Exporters are encouraged to set some New Year’s goals for their logistics program, seeking to build a more robust compliance program. The following is a short list of some New Year’s resolutions for 2019 that can make every future year just a little easier to manage:

Importers:

1. Create an import compliance manual

If you do not have a procedural manual in place, think about creating both a print version and electronic version. If you already have one, now is a great time to review and update any “outdated” regulations and instructions. Your manual should include the following:

  • Import procedures: have a step-by-step instruction guide for everything from the purchase order to the final delivery to warehouse.
  • Classifications: all new products should be classified prior to placing purchase order and all current products should have classification reviewed annually.
  • Parties involved: suppliers, manufacturers, broker, transportation provider, international staff should be aware of regulations and security requirements for all imports.
  • Government agencies that will be wanting to review your products. Be prepared before the cargo ever leaves origin: know what agencies will be involved.
2. Participate in CTPAT

This will help you work with customs to protect your supply chain. By participating in CTPAT, you will be able to benefit in the following ways:

  • Reduction in the number of required CBP exams.
  • Priority slots for inspections.
  • Possible exemption from Stratified Exams.
  • Assignment of a supply chain security specialist.

Click here to learn more about CTPAT.

3. Get an ACE Portal Account

This will allow you to receive real-time reporting of international shipping activity. You will gain access to various instructional tools, including an ISF management tool. Click here for more information.

4. Perform an annual review with your broker

Make sure that you and your broker audit all classifications and procedures. Specifically, make sure to pay attention to review classifications and any other formal processes.

Exporters

1. Create an export compliance manual

If you do not have a procedural manual in place, think about creating both a print version and electronic version. If you already have one, now is a great time to review and update any “outdated” regulations and instructions. Your manual should include the following:

  • Export procedures: have a step-by-step instruction guide in place for your sales, logistics, customer service, forwarder and broker processes.
  • Incoterms for all shipments based on the buyer, country and risk transfer.
  • Schedule B classifications.
  • Documentary requirements.

Additional tools can be found here

2. Know your product well

Throughout the export process, you will want to ask the following questions to make sure you know your product inside and out:

  • What government agencies will be interested in the exports of your goods? 
  • Is your product subject to ITAR?
  • Is your product licensable?
3. Participate in CTPAT

CTPAT is also available to exporters. By participating in CTPAT, you will be able to receive many of the same benefits that importers receive. You can continue to work with a supply chain expert, receive priority slots for inspections and reduce the number of required examinations.

Click here to learn more about CTPAT for exporters.

4. Perform an annual review with your forwarder

Make sure that you and your forwarder review all important export rules and regulations such as incoterms, the Schedule B and any country specific requirements that have changed. As part of the process, you will also want to review your bond and marine insurance.

Where can I go to reach peak trade compliance excellence?

Let us know how we can help you on your journey to trade compliance excellence. Contact our team today or speak to your Ascent Global Logistics representative directly. 

Ascent Global Logistics' compliance team is willing and able to come and speak to your international staff about a host of topics that might be helpful in fulfilling some of these goals. From Import 101 to Export 101, Incoterms, Red Flags of Exporting, Documentation, Classification and many other topics, we can provide services through webinars, seminars, one on one discussion or group training to improve your team’s understanding of the many regulations and guidelines.

Topics: Export, Import, Compliance, International