What they mean and how to pick one. Incoterms® were established by the International Chamber of Commerce (ICC) in 1921 and have become a crucial element in global trade, defining the responsibilities of buyers and sellers in international transactions. In this webinar, we’ll provide a high-level overview of Incoterms®, delve into their complexities, and simplify their application in various trade scenarios. You’ll gain a clear understanding of how to use Incoterms® to allocate risks and costs effectively, ensuring smoother international transactions.
Trade News
DDTC: Directorate of Defense Trade Controls issued an ITAR Compliance Risk Matrix
The Department of State, Directorate of Defense Trade Controls (DDTC) is issuing a new ITAR Compliance Risk Matrix, accompanied by a supplemental risk matrix specific to universities. These risk matrices are intended to assist organizations in assessing their level of…
BIS: Bureau of Industry and Security Published Guidance on Best Practice
BIS published guidance on Best Practice: Certification to Prevent Diversion to Russia of Highest Priority Items. They identified 45 HS codes that have controlled items that are at risk of being diverted due to their importance to Russia’s ware efforts.…
Sanctions in Singapore
Singapore is fining Hydronav Services, a Singpore company, for violations of their export controls in sending goods to Myanmar. They lied and said it was going to Indonesia. Read More
CBP: Customs and Border Protection Releases August 2023 Monthly Update
August 2023 statistics are here. Details on migration, narcotics traffic, travel, the CBP One app, forced labor and intellectual property, and agriculture topics. Read More
OFAC: The Office of Foreign Assets Control Settled with 3M and Emigrant Bank
OFAC settled with 3M and Emigrant Bank for $9,618,477. This is for a potential civil liability for 54 apparent violations of sanctions on Iran. 3M’s subsidiary sold reflective license plate sheeting to an Iranian entity controlled by Iranian law enforcement.…
USTR: Section 301 Exclusions Extended Expiration Date
The existing Section 301 Exclusions that were set to expire 9/30/2023 are now extended until 12/31/2023. The list of impacted HS codes and items are in the Federal Register notice. Read More
CBSA: Updates to CARM Release 2 Timeline
In May 2024, CARM will become the official system of record for the collection of duties and taxes for commercial goods imported into Canada. Release 2 soft launch is planned for October 2023 to allow selected industry partners to test…
GAO: The Government Accountability Office issued report on the Export-Import Bank
The Government Accountability Office issued their report on the Export-Import Bank monitoring of dual-use items that they finance. The bank did not finance any new dual-use exports in FY 2022. It continued to monitor use of two satellites sold to…
BIS: Bureau of Industry and Security Amended the EAR
Bureau of Industry and Security amended the EAR to create another way to renew Temporary Denial Orders (TDOs). The new option allows BIS to request that the Export Enforcement Assistant Secretary renew an existing TDO for a year, instead of…
DOJ: Department of Justice Lawsuit Against SpaceX
The Department of Justice filed a lawsuit 8/24 against SpaceX for discriminating against asylees and refugees in hiring practices. The lawsuit alleges that, from at least September 2018 to May 2022, SpaceX routinely discouraged asylees and refugees from applying and…
CSMS: ACE Technical Forum
CBP is holding an ACE Technical Forum for software developers and self-programmers on September 14th. Read More
BIS: The Bureau of Industry & Security Issued a Temporary Denial Order
The Bureau of Industry & Security issued a Temporary Denial Order (TDO) suspending export privileges of three people who are part of a Russia-based procurement network supplying Russia’s military. The Disruptive Strike Force coordinated an operation with DOJ and Commerce,…