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How Trade Compliance Seminars Benefit Your Business
While high productivity is good, sometimes it results in greater risks, particularly if you export products or services. Employee productivity has risen in recent years, and in many cases that means employees take on multiple responsibilities. While high productivity is good, sometimes it results in greater risks, particularly if you export products or services. Export violations are being investigated more often, and penalties have increased dramatically in recent years. Export violations can cost companies millions of dollars in fines and can disrupt production and result in negative media coverage. No company can afford to run afoul of export regulations. But how is the best way to prevent violations? Education is the key, and training seminars by an experienced trade compliance specialist are an excellent way to educate your workforce.Understanding Export Administration RegulationNumerous federal agencies are responsible for regulations and laws about export activities,[url=http://www.pachasvip.com]hollister clearance[/url], including:The Office of Foreign Assets Control (OFAC)The Census Bureau Foreign Trade Regulations (FTR)The Department of Commerce Bureau of Industry and Security (BIS)It isn't easy to keep up with changes in regulations, enforcement activities,[url=http://www.pachasvip.com]hollister outlet[/url], and penalties, but trade compliance seminars are an effective way of keeping your workforce informed about what must be done to comply with all U.S. export regulations. Employees can learn common risk areas and how to avoid mistakes that can lead to enforcement action. Your company can also learn about export management programs that help to mitigate penalties if an enforcement proceeding should take place.ITAR and How it Affects Your BusinessIf you export anything on the U.S. Munitions List, then you are affected by International Traffic in Arms Regulations, or ITAR. Educational seminars help your employees understand their responsibilities under ITAR as well as the latest ITAR changes and how they affect your business operations. These seminars can also teach key employees about preparing export license applications as well as understanding exemptions under ITAR. A robust ITAR compliance program helps your key employees to know exactly what to do when a problem arises and how penalties can sometimes be influenced by mitigating factors.Which Employees Should Attend Compliance Seminars?If you're an exporter, then most of your employees should attend compliance seminars. No matter where in the production chain an employee operates, he or she at the very least needs to be aware of the importance of export compliance and should know what to do if a breach is suspected. A qualified compliance specialist is able to tailor compliance training to each company for maximum relevance and maximum educational benefit.Allowing You to Focus on Running Your BusinessWhen you and your employees are well-versed in all trade compliance issues affecting your company, everyone is freer to focus on the business itself. A workforce that is unsure of regulations, or employees who don't know how to bring up issues that may pose risks under export compliance laws can run unnecessary risks that can seriously hurt business. Investing in the expertise of a trade compliance specialist is just like investing in peace of mind. Understanding regulations and having processes in place to ensure compliance is the best foundation for running a successful export business.