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Roanoke Trade is pleased to announce Indonesia as the world’s 75th member nation to join the international ATA Carnet network. This much anticipated trading partner of the U.S. will begin accepting and issuing ATA Carnets on May 15, 2015. As the world’s fourth most populous nation, Indonesia has become an economic leader in Southeast Asia. A secular state with strong political ties to the U.S., Indonesia is a magnet for U.S. industries specifically the energy and aerospace sectors. Heavy investments in aircraft, rail transport equipment, oil and gas have helped lead to double-digit growth in U.S. exports to Indonesia over the past five […]
“Facilitation payments” made to customs officers are common in some parts of the world, and, strictly speaking, they don’t violate the U.S. Foreign Corrupt Practices Act (FCPA). But there are complications. The Securities and Exchange Commission published guidance on the issue that states, “The FCPA does not apply to any ‘facilitating or expediting payment,’ the purpose of which is to expedite or secure the performance of a ‘routine governmental action.’” That includes common payments to ordinary officials in foreign countries to complete an action that was bound to be completed in the first place. That said, the SEC admonishes companies […]
Export Administration Regulations (EAR) and sanction programs are constantly changing. It can be challenging to navigate through the Office of Foreign Asset Control’s (OFAC) numerous pages of sanctions information and SDN (Specially Designated National) lists. But you must know how these regulations impact your shipments, and subsequently your business. In 2014 alone, 23 civil actions were taken against various companies for OFAC violations. The penalties totaled $1,209,000,000! A few examples are: A foreign subsidiary of a US company purchased briquettes made of Cuban-origin nickel. Settlement amount $2,057,000. A US company shipped audio and video equipment overseas, knowing the goods would be […]
When exporters undercut pricing on their goods to gain share in the marketplace, they put importers’ revenue in jeopardy. Anti-dumping laws in many countries around the world are enforced with harsh penalties, and importers have a major responsibility to ensure it isn’t happening. Currently there are multiple uproars over exporters that are using unfair pricing tactics to increase the attractiveness of their products. For example, in February Felman Production filed an anti-dumping petition with the U.S. Department of Commerce and the International Trade Commission accusing an Australian metallurgical company of sending large and increasing volumes of low-priced siliconmanganese to the […]
As the trade adjusts to the new features of CBP’s Automated Commercial Environment (ACE), Roanoke Trade continues to work closely with CBP and the trade to offer guidance on processing bonds in an electronic environment (eBond). As of January 3, 2015, all continuous bonds and Importer Security Filing (ISF) single transaction bonds must be filed as eBonds via the surety or surety agent. Non-ISF STBs are still issued as paper bonds to the local port unless your ABI software developer has confirmed the entry data is processed as an ACE cargo release. Refer to Roanoke Trade’s flyer, What’s Required? eBond […]
As terminal operators and truckers try to process the weeks or months of backlogged cargo at West Coast ports, thieves are looking to grab low-hanging fruit. From 2013 to 2014, 25% of all recorded cargo theft in the United States occurred within 200 miles of the ports of Los Angeles, San Francisco and Seattle, according to FreightWatch International. The surge in cargo activity resulting from the normalization of West Coast port operations is expected to stress trucking assets and port security. Fictitious pickups in the above-mentioned ports have been 100% higher than the national average over the past two years. […]
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