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.
BIS: $5.4 Million Penalty and 3-Year Denial Order Imposed on M&M Wireless for Alleged EAR Violations and Recordkeeping Failures
BIS: $5.4 Million Penalty and 3-Year Denial Order Imposed on M&M Wireless for Alleged EAR Violations and Recordkeeping Failures
November 22, 2024/
Bureau of Industry and Security is initiating proceedings against M&M Wireless for violations of the EAR. The claim is that M&M Wireless falsified value and quantity on some exports and failed to comply with recordkeeping requirements. The company was subpoenaed and they responded "no such records exist".
The order has a $5.4 million penalty and $462,700 civil forfeiture, along with 3-year denial order and required export compliance training. The denial order can be suspended/waived if the training is completed.
Related Posts
Justice: U.S. Seizes Smuggled Dassault Falcon Tied to Venezuela
The US filed a civil forfeiture complaint in Florida against a Dassault Falcon 900 EX aircraft that was smuggled from the US and operated by a Venezuelan blocked party. Read More
CSMS: Verify Your Customs Broker’s Listing on CBP’s Official Site
CBP has a list of permitted customs brokers available on their site. They update it from the ACE National Permit record. If it’s wrong, make sure that brokers update their data there (also that’s the law under 19 CFR 111.30(a)! Read More
Canada’s Dairy Protections Spark Trade Debate Amid U.S. Export Surplus
Trump has criticized Canada’s supply management system, which limits dairy imports and maintains stable prices for Canadian farmers, arguing that it unfairly disadvantages American dairy producers. Meanwhile, Canada defends the system as essential for protecting its agricultural sector and ensuring a steady income for its farmers. The article explores the economic and political factors behind…
House Committee Seeks Briefing on National Security Risks in University Supercomputers
U.S. lawmakers are seeking a briefing from the Bureau of Industry and Security on the risk of PRC nationals accessing university supercomputers powered by export-controlled chips. Concerns center on PRC-linked entities bypassing restrictions to advance China’s military and technological capabilities, highlighting the need for stricter safeguards. Read More