Global trade experts will explain the importance of automating trade compliance processes and the difficulties oil and gas companies face, as well as present recent developments in the industry.  By attending this webinar, you will walk away with:

• A better understanding of the export compliance challenges oil and gas companies are facing
• Various strategic considerations to think about when implementing an automated trade compliance solution
• Best practices you can use to improve your company’s export compliance processes

Speakers will include:
Scott Byrnes, Vice President of Marketing, Amber Road (formerly Management Dynamics, Inc.)
Natalia Shehadeh, Director of Trade Compliance, Weatherford
Scott Johnston, Attorney, Specializing in U.S. Import/Export Law, Givens & Johnston, PLLC

Join us and find out how you can automate your trade compliance process!

Proponents list a host of benefits from FTAs, including:

- Expanded access to markets for both goods and services

- Greater protection of intellectual property rights

- Growth in jobs that would accompany the opening of new markets

Taking this into consideration, Management Dynamics offers a comprehensive Free Trade Agreement (FTA) management solution that provides solicitation and qualification in order to determine if a company’s product is eligible for preferential treatment. This can have a significant impact on the applicable duties for their products resulting in reduced total landed costs.

To learn more about the Free Trade Agreement Solution, read the full press release here.

Presented by the Journal of Commerce, global trade compliance experts discuss the technology available to help companies of all sizes with managing classification and other critical compliance processes. Anthony Hardenburgh, VP Global Trade Content at Management Dynamics, and Ty Bordner, VP of Solutions Consulting at Management Dynamics, also provide details on the launch of a free trade tool that will soon be available to the trade community.

Click here to listen to the podcast.

Global trade involves an array of compliance and operational issues that small businesses are aware of but either don’t fully comprehend, or don’t have the right resources and expertise to properly deal with.  To tackle these issues and automate (and streamline) trade compliance, more and more companies are turning to Software as a Service (SaaS) models.  Such SaaS models are appealing to SMBs because of their affordability and ease of use as on-demand, pay as you go export management and compliance solutions. 

According to Nathan Pieri, VP of Marketing and Product Management at Management Dynamics, the main challenge for SMBs is organizing their approach to globalization; both understanding the rules and regulations, and setting up an environment where they can comply with export laws.  Management Dynamics recently released an Export On-Demand solution that helps SMBs automate and manage all aspects of global trade initiatives, including: product classification, restricted party screening, and license management. 

For more information, check out the full article.

During the one-hour webinar, key industry experts will discuss the market dynamics driving importers to consider this strategy, and Management Dynamics customer Leggett & Platt will share their success story. Other topics will include:

- The benefits of integrating logistics and compliance
- Challenges importers will have to overcome
- The key role technology plays
- Actionable advice for importers exploring this idea

Register today!

This pact is expected to increase U.S. exports to Colombia by more than $1 billion a year, and could result in the creation of thousands of American jobs. Congress must approve the agreement before it can be implemented.

So what are the benefits to U.S. exporters?

• A majority of U.S. agricultural exports to Colombia will become duty-free and almost all tariffs will be eliminated within 15 years
• 80% of U.S. exports of consumer and industrial goods to Colombia will also become duty-free, with the remaining tariffs being eliminated over the next 10 years

It’s unclear when the agreement will be sent to Congress for a vote, but many feel that confirming the deal now is critical. Doing so will allow the U.S. to maintain an economic foothold in the country.

For more information, check out the full article.

Sixty-two percent of respondents to Deloitte’s annual “Look Before You Leap” survey of more than 500 corporate executives, investment bankers, private equity executives and hedge fund managers renegotiated or pulled out of deals over the past three years due to potential violations of economic or trade sanctions. The numbers were higher in the financial sector, with 64 percent of financial industry pulling out of deals due to these issues.

Eighteen percent of respondents renegotiated or pulled out of deals due to concerns regarding the target’s use of agents, consultants, distributors or third parties. Thirty-two percent of respondents cited weaknesses in due diligence, screening and compliance programs, including quality of data and effectiveness of screening controls as a cause for renegotiating or breaking a deal. Trade with high-risk countries such as Iran and Cuba was another factor for 17 percent of respondents while trade with denied parties was another concern for 16 percent of survey respondents.

Full survey findings are available at http://www.deloitte.com/us/pr/lookbeforeyouleap2010.

For more information on how to improve trade compliance, watch this webinar on building an Export Compliance Program.

The new INCOTERMS® 2010 became effective January 1, 2011. Incoterms–which is an abbreviation for International Commercial terms–are a series of sales terms. They are published by the International Chamber of Commerce (ICC) and are widely used in commercial transactions. In addition to providing a set of rules for the interpretation of commonly used trade terms, INCOTERMS® 2010 accomplish the following:

1. Significantly revises Group D listed in INCOTERMS® 2000;

2. Reduce Incoterms from four groups to two groups, allowing trade experts to choose the most suitable rule related to the mode of transport; and

3. Reduce the absolute number of Incoterms from 13 to 11.

Moreover, INCOTERMS® 2010 offer additional guidance which assists users in selecting the most appropriate Incoterm for each transaction. The revised terms also spell out rules regarding the use of electronic procedures; detail information on security-related clearances for shipments; and offer advice with respect to domestic trade.

Learn more about Incoterms 2010

If you still have questions regarding the new Incoterms 2010, please contact the Trade Information Center at 1-800-USA-TRADE (1-800-872-8723).

The U.S. Commercial Service (part of the U.S. Department of Commerce) will host a webinar for e-commerce exporters.  “Preparing Your Business for Global E-Commerce” will feature the authors of the DOC’s guide for e-commerce retailers, as well as successful e-retailers. Speakers will address topics such as best practices, ordering and payment, inventory management, tariffs and taxes, international shipping considerations, fraud issues, export controls, and country of origin.

Speaker Information:

• Shirley Drake, Director Import/Export/Hazmat Compliance – Bass Pro, Inc.
• Raimundo Martinez, President and Co-Founder – GlobalShopex LLC
• Greg Sack, President of Sales – Bongo International
• Ken Walsh, Commercial Officer – U.S. Commercial Service
• Scott Lewis, Director Mid-Market – Management Dynamics, Inc.
• Kathy Parks, Corporate Sales Manager – FedEx

Learn how your business can fulfill a high volume of international orders both efficiently and profitably.

The webinar costs $40 and will take place on Tuesday, February 1 at 2 pm (EST). 
Register today!

In a word, Global Trade Content is a big deal, and it is extremely important where you get your data. Global Trade Content is the database of information that importers and exporters use to determine whether they are in compliance with international regulations.

This information ranges from the harmonized tariff schedules to classify goods, to the duty rates needed to calculate landed cost, to the IMEX controls that determine whether you can legally complete your transaction. To efficiently import or export goods, you need fast access to a comprehensive source of traded content for all the countries with which you trade.

Although there is only one official source of data from each governmental agency, it is impossible for an in-house trade compliance team to keep up with the volume that each agency in every country puts out. Additionally, all data providers are not created equal. Some do not adequately cover the regions you need, some update their data infrequently (delays in data updates of only 1 week can cost you dearly!) and some do not have the in-house expertise to interpret international regulations appropriately.

ChainLink Research Connects the Dots in Global Trade Management

ChainLink Research recently discussed the challenges of Global Trade Content in their blog:

In order to solve users’ challenges, software providers develop software. Users provide the data. But in GTM the data comes from thousands of external sources, i.e. government, trade groups, etc. So the ‘solution has to be more.’

Not only are there a plethora of changing regs that end-users have to be aware of, but those changes often force them to change orders or other shipping documents, duties, etc. On a more strategic level, they may actually force them to change their physical supply chain network (as well as potential third parties who provide services in these locations). Even in large firms, there is no staff equipped with the breadth of knowledge necessary to internalize all this information and then make the changes to their forms, fees, etc.

What’s the end result? By combining a comprehensive global trade content database that covers multiple types of regulations and agencies with a system that automatically updates all of your own data, companies can lower their risk of breaching standards or breaking the law, and reap cost savings. Accurate, real-time trade content helps prevent penalties and delays, and reduces non-compliance risks. And, automating the process frees up resources to work on more strategic initiatives.

As ChainLink Research puts it:

Making informed choices about what is actually happening in the Supply Chain, across the network of trading partners, can bring tangible cost savings to firms that can cycle time and thus inventory and other carrying costs, and avoid charge backs and late fees, because they are now armed with the knowledge of what happened in the chain.

Read the complete blog post at: ChainLink Research: Global Trade Management Solution is More Than Software